Time of Supply under GST Law
· Time of Supply · With reference to ToS determination under GST so as to assess point of discharge tax liability, let's take a quick view at provisions say on this:- · Table 1: Section 12: Time of Supply (ToS) of Goods (read with section 31(1)/(4)/(7) CGST Act, 2017):- - Notification No. 66/2017 CT dated 15.11.2017 : Registered person other than composition supplier or the once engaged in supply of specified actionable claims, is to pay GST only at ToS for payment purpose determined u/s 12(2)(a) i.e. due date of invoice issuance u/s 31 read with sec. 14 CGST Act which means no GST payment liability arises on advance receipt of payment exclusively in context of goods Table 2: Section 13: Time of Supply (ToS) of Services (read with section 31(2)/(5)/(6) CGST Act, 2017) Table 3: Section 14: Change in Rate of Tax in respec...