Time of supply on tax rate change determined by priority of invoice date versus receipt of payment for GST supplies. Time of supply on change of tax rate is set by priorities between invoice date and date of receipt of payment depending on whether supply occurred before or after the rate change: where both invoice and payment occur after the change, the earlier controls; invoice predating and payment following the change fixes invoice date; payment predating and invoice following fixes payment date. For supplies after the change, analogous priority rules apply. The date of receipt is the earlier of entry in supplier's books or bank credit, with a bank-credit timing proviso.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Time of supply on tax rate change determined by priority of invoice date versus receipt of payment for GST supplies.
Time of supply on change of tax rate is set by priorities between invoice date and date of receipt of payment depending on whether supply occurred before or after the rate change: where both invoice and payment occur after the change, the earlier controls; invoice predating and payment following the change fixes invoice date; payment predating and invoice following fixes payment date. For supplies after the change, analogous priority rules apply. The date of receipt is the earlier of entry in supplier's books or bank credit, with a bank-credit timing proviso.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
