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Time of supply
Indirect Taxation
In the attached file, in the given example 6 , iii & iv questions answers are bit confusing. In case of a composition dealer the time of supply would be date of issue of invoice or receipt of payment whichever is earlier.....but in question iii they didn't consider receipt of payment why? And in question iv where did this 5th of August came from?
Answers (5)
Shankari C
First of all,this question is not about composition scheme.So, forward charge will apply.Then, actual date of invoice or the date on which invoice must be raised becomes the time of supply.In iii) 1st August being the date of invoice,becomes the time of supply.
Thank you. But the provision also mentions the receipt of payment in the second point...i.e., the earliest amongst the two.
Shankari C
There is amendment regarding this.Are you using old study material?
Yes iam using old material. I'll go through the ammendment thanks for helping out!
Thread Starter
srinidhi srinivasYes iam using old material. I'll go through the ammendment thanks for helping out!
Yea yeah go through the amendments.
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