,
,
, 1. Time of Supply
Sec 31 - Last Date of issue of Invoice
1 Before or at the time of removal of goods/ or making available - In case of goods
2 Before or after the provision of service - In case of Service
but not beyond 30 days (in case of banks 45
days) from the date of supply of service
3 Sucesive Statement or Payment - Whichever is Earlier -continuous supply of Goods
4 (A) where the due date of payment is ascertainable the invoice shall be -continuous supply of services
issued on or before the due date of payment
(B) where the due date of payment is not ascertainable from the
contract, the invoice shall be
issued before or at the time when the supplier of service receives the
payment
(C) where the payment is linked to the completion of an event, the
invoice shall be issued on
or before the date of completion of that event.
5 Goods Sent on Approval or Return Basis (a) Supply Confirmed by Receipient
within 6 month- Date of Confirmation
or
(b) Not confirmed within 6 months - Date
when 6 months get over
TOS
Sec 12 : TOS for supply of goods Sec 13 :- TOS for Supply of Service
12(2)- Forward charge 13(2)- Forward charge
• Date of issue of Invoice or (a) If Invoice is issued within time
• Last Date of issue of Invoice • Date of issue of Invoice or
Whichever is earlier • Date of Payment
Whichever is earlier
Note : As per N/N 66/2017 TOS is not on date of Receipt (a) If Invoice is not issued within time
• Date of Payment or
• Date of Completion
Whichever is earlier
Sec 12(3) - RCM Sec 13(3) - RCM
(a) Date of Receipt of goods, or (a) Date of Payment, or
(b) Date of Payment, or (b) 61st Day from Supplier's Invoice
(c) 31st Day from Supplier's Invoice Whichever is earlier
Whichever is earlier
Vouchers
(a) If Supply is identifiable - Date of Issue of Vouchers
(b) In Other Cases - Date of Redemption of Vouchers
Interest/ LateFees or Penaltyfor delay payment of considerstion
Date on which Supplier receives the addition in value
Notes: Date of Payment (a)Date of book entry
(b)Credited to Bank
Whichever is earlier
CA Mayank Trivedi - Telegram : @ca_video ( Chartered Aspirant )
Video for this book will be Available for Free on Youtube Channel : CA Mayank Trivedi 1
,
, 1. Time of Supply
Sec 31 - Last Date of issue of Invoice
1 Before or at the time of removal of goods/ or making available - In case of goods
2 Before or after the provision of service - In case of Service
but not beyond 30 days (in case of banks 45
days) from the date of supply of service
3 Sucesive Statement or Payment - Whichever is Earlier -continuous supply of Goods
4 (A) where the due date of payment is ascertainable the invoice shall be -continuous supply of services
issued on or before the due date of payment
(B) where the due date of payment is not ascertainable from the
contract, the invoice shall be
issued before or at the time when the supplier of service receives the
payment
(C) where the payment is linked to the completion of an event, the
invoice shall be issued on
or before the date of completion of that event.
5 Goods Sent on Approval or Return Basis (a) Supply Confirmed by Receipient
within 6 month- Date of Confirmation
or
(b) Not confirmed within 6 months - Date
when 6 months get over
TOS
Sec 12 : TOS for supply of goods Sec 13 :- TOS for Supply of Service
12(2)- Forward charge 13(2)- Forward charge
• Date of issue of Invoice or (a) If Invoice is issued within time
• Last Date of issue of Invoice • Date of issue of Invoice or
Whichever is earlier • Date of Payment
Whichever is earlier
Note : As per N/N 66/2017 TOS is not on date of Receipt (a) If Invoice is not issued within time
• Date of Payment or
• Date of Completion
Whichever is earlier
Sec 12(3) - RCM Sec 13(3) - RCM
(a) Date of Receipt of goods, or (a) Date of Payment, or
(b) Date of Payment, or (b) 61st Day from Supplier's Invoice
(c) 31st Day from Supplier's Invoice Whichever is earlier
Whichever is earlier
Vouchers
(a) If Supply is identifiable - Date of Issue of Vouchers
(b) In Other Cases - Date of Redemption of Vouchers
Interest/ LateFees or Penaltyfor delay payment of considerstion
Date on which Supplier receives the addition in value
Notes: Date of Payment (a)Date of book entry
(b)Credited to Bank
Whichever is earlier
CA Mayank Trivedi - Telegram : @ca_video ( Chartered Aspirant )
Video for this book will be Available for Free on Youtube Channel : CA Mayank Trivedi 1
