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Please provide explanation for the attached McQ

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Priyanka Udeshi

Priyanka Udeshi

CA Inter

6K+

28-Feb-21 23:18

19

Answers (4)

Tax rate applicable at time of supply is usually considered Section 14(a) If supply is made after the change in the rate of tax If Issue of invoice If Receipt of payment Then Applicable time of Supply Before the change Before the change Date of receipt of payment or date of issue of the invoice whichever is earlier After the change Before the change Date of Invoice Before the change After the change Date of payment In the present case invoice is issued after change of rate and payment before change of rate thus the rate effective on invoice date i.e. 24% will be applicable


sudha reddy

sudha reddy

Moderator

01-Mar-21 14:56

Ma'am but we don't have section 14 at inter level right?

Yes. This is at final level. We will remove it from Inter. Regret the inconvenience. But the doubt is clarified


sudha reddy

sudha reddy

Moderator

01-Mar-21 16:07

Yes. This is at final level. We will remove it from Inter. Regret the inconvenience. But the doubt is clarified

Yes clarified thank you so much!!


Priyanka Udeshi

Priyanka Udeshi

CA Inter

6K+

01-Mar-21 16:12

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