Time of supply of goods determines tax liability timing; earlier of invoice issuance or payment receipt governs taxable event. Time of supply fixes tax liability timing: generally the earlier of invoice issuance (or last invoice date) or receipt of payment as recorded in books or bank; reverse charge supplies use the earliest of goods receipt, recipient's payment entry/bank debit, or the date after a thirty day period post invoice, with the recipient's books as fallback; vouchers use issue date if identifiable or redemption otherwise; where none apply, the return filing date or tax payment date governs; additions like interest or late fees crystallise on receipt.
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 of goods determines tax liability timing; earlier of invoice issuance or payment receipt governs taxable event.
Time of supply fixes tax liability timing: generally the earlier of invoice issuance (or last invoice date) or receipt of payment as recorded in books or bank; reverse charge supplies use the earliest of goods receipt, recipient's payment entry/bank debit, or the date after a thirty day period post invoice, with the recipient's books as fallback; vouchers use issue date if identifiable or redemption otherwise; where none apply, the return filing date or tax payment date governs; additions like interest or late fees crystallise on receipt.
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