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of <h1>Understanding Section 14: How GST Law Determines Time of Supply with Tax Rate Changes for Goods or Services.</h1> Section 14 of the Model GST Law addresses the determination of the time of supply when there is a change in the tax rate for goods or services. If goods or services are supplied before the tax rate change, the time of supply is based on the earlier of the invoice date or payment receipt date. If supplied after the tax rate change, the time of supply depends on the timing of invoice issuance and payment receipt. The date of payment receipt is defined as the earlier date between entry in the supplier's accounts or bank credit, with specific provisions for bank credits occurring after four working days from the tax rate change.
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