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Mcq

Indirect Taxation

Please provide explanation for the attached McQ

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Priyanka Udeshi

Priyanka Udeshi

CA Final

14K+

28-Feb-21 23:18

333

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

CA Final

20K+

01-Mar-21 14:56

Thread Starter

Priyanka Udeshi

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

CA Final

20K+

01-Mar-21 16:07

Sudha Reddy

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!!


Thread Starter

Priyanka Udeshi

Priyanka Udeshi

CA Final

14K+

01-Mar-21 16:12

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