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Time of supply
Sir , in case of supply of goods under RCM , part of the payment is on june 30 and balance amount on july 20 . Receipt of goods on july 1 and date of issue of Invoice on june 29 . In this case , why date of receipt of advance is taken as time of supply for that part payment , as advance received in case of goods is not taxed at the time of receipt ? Sir
Answers (4)
Advance is not taken as TOS in case of Section 12(2). But in case of RCM, date of receipt of payment can be TOS
Thank you sir . Part payment means advance . Is this correct sir ?
