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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)
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 ?
