Time of supply

Indirect Taxation

Banke Bihari (Pedewala) owns a famous sweets shop located and registered under GST in Mathura, Uttar Pradesh. He received an order for 200 kg of sweets on 2nd May from Ghoomghoom Travels (P) Ltd., located in same locality of Mathura and registered under GST, for a total consideration of 1,00,000. Complete order of sweets was delivered to Ghoomghoom Travels (P) Ltd. on 5th May but without invoice, as accountant of Mr. Banke Bihari was on leave on that day. However, the invoice was raised for the same on 6th May, when the accountant joined the office after leave. Payment in full was made on 7th May.

Ujwal Reddy

CA Inter

★ 7K+

09-May-23 06:41

635

Answers (5)

TOS is 5th May

Shiva Teja

Faculty

09-May-23 06:42

Shiva Teja Faculty

TOS is 5th May

On basis of sec12 (2) ?

Thread Starter

Ujwal Reddy

CA Inter

★ 7K+

09-May-23 06:55

Thread Starter

Ujwal Reddy

On basis of sec12 (2) ?

Yes

Sudha Reddy

CA Final

★ 20K+

09-May-23 10:59

Here we have to consider 3 dates for determining the time of supply. Invoice date : 6th may Payment date : 7th May Due date of invoice: 5 th may Tos is earlier of the above so 5 th may

jaya jaya

CA Inter

★ 12K+

09-May-23 11:00

Yes according to section 12(2)

jaya jaya

CA Inter

★ 12K+

09-May-23 11:01