GST on Uncertain Revenue
Query (Issue) Started By: – CAPurnima Bothra Dated:- 9-7-2018 Last Reply Date:- 10-7-2018 Goods and Services Tax – GST
Got 6 Replies
GST
Case Study:
\nLessor has raised demand note asking lease rental for the whole year.However lessee has moved to court and is not ready to pay any dues.Now in this scenario Lessor is paying GST out of his pocket as no amount is recoverable from the lessee which leading to huge cash blockage at this moment.
\nCan GST amount be escaped\/defered on uncertain revenue and be paid once the revenue becomes certain.
\nReply By KASTURI SETHI:
\nThe Reply:
\n You can decide according to the definition of 'Time of supply' as per details given below:-
\n13. Time of supply of se<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n nt, in a case where the provisions of clause (a) or clause (b) do not apply : = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" GST on Uncertain Revenue Query (Issue) Started By: – CAPurnima Bothra Dated:- 9-7-2018 Last Reply Date:- 10-7-2018 Goods and Services Tax – GSTGot 6 RepliesGSTCase Study: Lessor has raised demand note asking lease rental for the whole year.However lessee has moved to court and is not ready to pay any dues.Now in this scenario Lessor … Continue reading “GST on Uncertain Revenue”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-12541","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/12541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12541"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/12541\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
\nProvided that where the supplier of taxable service receives an amount up to one thousand rupees in excess of the amount indicated in the tax invoice, the time of supply to the extent of such excess amount shall, at the option of the said supplier, be the date of issue of invoice relating to such excess amount.
\n If you have issued invoice, liability arises in the following month. If no invoice is issued, then the time of supply is the date of receipt of payment.
\nReply By Alkesh Jani:
\nThe Reply:
\nSir\/Madam,
\nPlease consult your Advocate seeking the interim order from the court to get gst amount from the party, till the final order. Also check Section 92 is appli<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n