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Time of Supply- Advance Payment

Indirect Taxation

In illustration-4 as per the indigo study material Transportation services under RCM Advance payment - June 17 th Date of invoice- July 22 nd For first part payment we consider TOS as June 17th The next payment is not mentioned in the question then should we consider 61 st day from the date of invoice as TOS for second part?

sai krishna teja

CA Inter

★ 940

11-May-20 20:05

377

Answers (3)

61 days is always taken from date of invoice . But Time of supply will be earlier of: Date of Payment (or) 61st date from invoice.

KEERTHI PRIYA

CA Inter

★ 695

11-May-20 21:31

KEERTHI PRIYA

61 days is always taken from date of invoice . But Time of supply will be earlier of: Date of Payment (or) 61st date from invoice.

My query is regarding the part payment

Thread Starter

sai krishna teja

CA Inter

★ 940

12-May-20 11:50

What i said earlier is correct. For simple understanding we can say that, If payment is made within 60 days from date of invoice then TOS= Date of Payment If payment is not made within 60 days from date of invoice then TOS = 61st day of Invoice

KEERTHI PRIYA

CA Inter

★ 695

12-May-20 15:32