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Levy in GST

S.No Particulars

1 Time of supply

The time of supply fixes the point when the liability to pay tax arises. The time of
supply is the time when a supply of goods and / or services is treated as being
made for payment of taxes under the GST law

(i) Goods

(a) Forward , (b) Reverse Charge, (c) Vouchers, (d) Residual

(ii) Services

(a) Forward , (b) Reverse Charge, (c) Vouchers, (d) Residual

(iii) Both

(a) Before Change in Tax

(b) After Change in Tax

2 Legal provisions of time of supply of goods

Section 12 (1) - Liability to pay tax on goods shall arise at the time of supply of goods

Section 12 (2) - Time of supply of goods on forward charges

Section 12 (3) - Time of supply of goods on reverse charge

Section 12 (4) - Time of supply of vouchers

Section 12(5) - Time of supply for residual cases

Section 12 (6) - Time of supply for addition in the value of supply

3 Legal provisions of time of supply of services

Section 13 (1) - Liability to pay tax on services shall arise at the time of supply
of services

Section 13 (2) - Time of supply of services on forward charges

Section 13 (3) - Time of supply of services on reverse charge

Section 13 (4) - Time of supply of vouchers

Section 13 (5) - Time of supply for residual cases

Section 13 (6) - Time of supply for addition in the value of supply

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Levy in GST

S.No Particulars
4 Legal provisions for change in rate of tax in respect of goods and/or services

Section 14 (A) • Goods and/or services supplied before the change in rate of tax

Section 14 (B) • Goods and/or services supplied after the change in rate of tax

5 Time of supply of goods under forward charge

Time of Supply of goods under Forward charge

(whichever is earlier)

Date of issue of invoice by the supplier

Date on which supplier receives the payment

Date of payment received by the supplier shall be earliest of the following:

- Date of entry of receipt in books of account of the supplier

- Date of credit in bank account of the supplier

Amount Received in excess of Tax Invoice

Such excess Amount is up to Rs 1000/-

Time of Supply such excess would be at option of taxable person

Date of issue of Invoice instead of Receipt of Money

6 Time of issue of invoice for supply of goods

a When Movement of Goods Required

Before or at the time of removal of goods

b When movement of goods not required

Before or at the time of delivery of goods

c Continuous supply of Goods

Earliest of the following;

Time when each payment is received

Time when each statement is issued

d Goods taken on approval

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Levy in GST

S.No Particulars

Earliest of the following;

On approval

Six month from the date of approval

7 In case supply to unregistered person is for Rs. 50,000/- or more tax

invoice should contain :

Name

Address of the recipient

Address of delivery

Name of State

8 Meaning of removal of goods

Section-2(96)

Dispatch of the goods for delivery by the supplier thereof or by any other
person acting on behalf of such supplier, or

Collection of goods by the recipient thereof or by any other person acting

on behalf of such recipient.

9 Meaning of continuous supply of goods

Section-2(32)

Supply of goods which is provided or will be provided

Continuously or on recurrent basis,

Under a contract

It may or may not be through means of a wire, cable, pipeline or other conduit.

The supplier sends invoice to the recipient on a periodic basis.

10 Time of supply of goods under reverse charge

Earlier of the following dates:

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Levy in GST

S.No Particulars
Date of receipts of goods; or

Date of payment of goods in the books of recipient of goods; or

Date of debit in Bank Account; or

Date immediately following 30 days from the date of issue of invoice

When date can not be determined above:

Date of entry in books of account of the recipient of supply

11 Time of supply of vouchers for goods

Date of issue of voucher

Date of redemption of voucher

12 Time of supply of services under forward charge

Time of supply will be earliest of the following:

Date of invoice, if invoice issued within time

Date of provision, if invoice not issued with in time

Date of receipts of payments

Date of payment received by the supplier shall be earliest of the following:

Date of entry of receipt in books of account of the supplier Date of credit

in bank account of the supplier

Amount Received in excess of Tax Invoice

Such excess Amount is up to Rs 1000/-

Time of Supply such excess would be at option of taxable person

Date of issue of Invoice instead of Receipt of Money

13 Time of supply of services under reverse charge

Other than Associated Enterprises

Date on which payment entered in books of accounts

Payment Debited in Books of Accounts

Date following 60 days from the date of issue of invoice by supplier

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Levy in GST

S.No Particulars

When date can not be determined above:

Date of entry in books of account of the recipient of supply

Associated Enterprises and supplier of Service is located outside India

Date of entry in the books of accounts of the recipient

Date of payment

14 Time of issue of invoice for supply of services

Normal Supply
With in 30 days from the date of supply of services

Continuous supply of Services

On or before the due date of payment, in case of continuous supply of services

where due date is ascertainable.

On or before the date of payment ,in case of continuous supply of services where
due date is not ascertainable

On or before that completion, in case of continuous supply where payment

is linked to completion of an event.

Cessation of Service

Time when

supply ceases to the extend supply made before such ceasation

15 Meaning of continuous supply of services

SECTION - 2 (33)

Supply of goods which is provided or will be provided

Continuously or on recurrent basis,

Under a contract

It may or may not be through means of a wire, cable, pipeline or other conduit.

The supplier sends invoice to the recipient on a periodic basis.

16 Time of supply of vouchers for services

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Levy in GST

S.No Particulars
Date of issue of voucher

Date of redemption of voucher

17 Time of supply of goods/ services

Residual provision :

A) In a case where a periodical return has to be filed, be the date on which such
return is to be filed;

B) In any other case, be the date on which the tax is paid

Addition in the value of supply

Interest

Late Fee

Penalty

For delayed payment

Time of supply – Date of receipt of additional value by recipient

18 Time of supply : change in rate of tax

The taxable service has been provided before the change in effective rate of tax

See the Table

19 Time Of Supply : Change In Rate Of Tax

The date of receipt of payment shall be the date of credit in the bank account if such
credit in the bonk account is after 4 working days from the date of change in rate of tax.
 The taxable service has been provided before the change in effective rate of tax

Scenario Events Before change in Events after change in Time of Supply

effective rate of tax effective rate of tax

1 Invoice issued All activities before Earlier of following:

Payment Received change in rate of tax
date of receipt of
payment or

date of issue of invoice

2 Invoice issued Payment Received Date of issue of invoice

3 Payment Received Invoice issued Date of receipt of payment

Time of supply : change in rate of tax

The goods and or service has been supplied after the change in effective rate of tax

Scenario Events Before change in Events after change in Time of Supply

effective rate of tax effective rate of tax

1 Invoice issued Payment Received date of receipt of

payment

2 Invoice issued Supply is done change in Earlier of following:

Payment Received effective rate date of receipt of
payment or

date of issue of invoice

3 Payment Received Invoice issued Date of issue of Invoice