Section 14 - Change in rate of tax in respect of supply of goods or services.

Understanding Time of Supply: Section 14 of Uttarakhand GST Act 2017 Explains Tax Rate Changes for Goods and Services

Section 14 of the Uttarakhand Goods and Services Tax Act, 2017, outlines 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 depends on when the invoice is issued and payment is received. If supplied after the tax rate change, similar criteria apply. The time of supply is determined by the earlier of the invoice issuance or payment receipt dates, with specific rules for different scenarios. The date of payment receipt is defined as when it is recorded in the supplier's accounts or credited to their bank account.