Section 12 - Time of supply of goods.

Time of supply of goods determines tax liability based on invoice, payment, receipt or voucher rules with reverse-charge fallback.

Time of supply for goods is the earlier of the invoice issue date (or its statutory last date) or the date the supplier receives payment, with supply measured to the extent covered by the invoice or payment and payment deemed as the earlier of book entry or bank credit. For reverse-charge supplies the earliest of receipt of goods, recipient's payment entry or bank debit, or the day after thirty days from supplier's invoice applies, with recipient's books entry as fallback. Voucher supplies are timed to issuance when identifiable or to redemption; additions like interest or late fees are timed to receipt.