Goods and Services Tax – GST – By: – CA Akash Phophalia – Dated:- 29-12-2016 – Introduction The provisions relatd to identification of time of supply of goods and services takes into consideration three things or situations :- Completion of provision of supply of goods or services Issue of invoice Payment of value of Invoice The legal provisions related to determination of time of supply of goods or services when there is change in rat of tax is stated in Section 14 of the revised Model GST Act which reads as under :- 14. Change in rate of tax in respect of supply of goods or services Notwithstanding anything contained in section 12 or section 13, the time of supply, in cases where there is a change in the rate of tax in respect of goods o
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ll be the date of receipt of payment; (b) in case the goods or services have been supplied after the change in rate of tax – (i) where the payment is received after the change in rate of tax but the invoice has been issued prior to the change in rate of tax, the time of supply shall be the date of receipt of payment; or (ii) where the invoice has been issued and the payment is received before the change in rate of tax, the time of supply shall be the date of receipt of payment or date of issue of invoice, whichever is earlier; or (iii) where the invoice has been issued after the change in rate of tax but the payment is received before the change in rate of tax, the time of supply shall be the date of issue of invoice: PROVIDED that the date
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pply. To put it differently, it can be said that this section is a transitional section for supply of goods and services when there is change in rate of tax. Another peculiar feature of this provision is that it follows the legacy of point of taxation rules as existed in the present Negative list Service Tax regime in relation to change in rate of tax. The mechanism of identification of time of supply of goods or services are explained in the simple and tabular manner as under:- Supply of Goods or Services Date of Invoice (DOI) Date of Payment (DOP) Time of Supply Before After After DOI or DOP whichever is earlier Before Before After DOI Before After Before DOP After Before After DOP After After Before DOI After Before Before DOI or DOP whi
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