IndigoLearn

Forums

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


Srini Sriram

Srini Sriram

CA Inter

3K+

22-Sep-20

37

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


Shiva Teja

Shiva Teja

Faculty

23-Sep-20

Shiva Teja Faculty

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 ?


Thread Starter

Srini Sriram

Srini Sriram

CA Inter

3K+

23-Sep-20

Yes


Suraj Lakhotia

Suraj Lakhotia

Admin

23-Sep-20

Thank you sir .


Thread Starter

Srini Sriram

Srini Sriram

CA Inter

3K+

23-Sep-20

All the Best
Flash Sale Byte size
Past_Exams
EMI
Tally + Excel Free
Inter Testimonials
Testimonials CA Foundation July 21
Refer
Quote
Excel Launch
Study Planner
Fundamentals of Blockchain
Financial Modelling