GST-Goods and Service Tax - 232. page

Goods and Services Tax Act – GST Law

Transaction value: Inclusions and exclusions

Transaction value: Recourse to Rules A.Where value cannot be determined u/s 15(1), i.e., when: 1.Price is not the sole consideration 2.Supplier-recipient are related persons: Recourse to Rules even if the […]

Time of Supply of Goods / Services – Reverse Charge – Sec 12(3) / 13(3) : In case of import of services from an associated enterprises the time of supply […]

Time of Supply of Vouchers – Sec 12(4)/13(4) Note: Voucher – can be for goods or services

  Residual Provision – Sec 12(5) / 13(5)

Time of Supply of Goods / Services – Value Addition – Sec 12(6) / 13(6) As per Section 15(2)(d) of CGST Act the value of supply shall include interest or […]

Time of Supply of Goods – Sec 12(2) Excess payment of upto Rs. 1000/- is received in respect of any invoice ØTime of supply shall at option of the supplier […]

Time of Supply of Goods – Sec 12(2) Illustrations :   Non continuous supply of goods Section 12(2)  r/w Section 31(1)   Invoice date Due date of issue of  nvoice Payment […]

Time of Supply of Services – Sec 13(2) *Where payment is received in advance, the Supplier shall issue a receipt voucher, and NOT a tax invoice *Where payment of Rs. […]

Time of Supply of Services – Sec 13(2) Illustrations    Section 13(2) Invoice date Invoice due date Payment entry in supplier’s books Credit in bank account Time of supply 1 […]