Time of supply determines tax liability: invoice date or payment receipt, with dedicated rules for reverse charge and vouchers. The time of supply is the earlier of invoice issuance (or last statutory invoice date) and receipt of payment, with payment defined as the earlier of book entry or bank credit. Reverse charge supplies use the earliest of goods receipt, recipient's payment entry (or bank debit), or the day after thirty days from supplier's invoice, defaulting to the recipient's book entry if indeterminate. Voucher supplies use issue date if identifiable or redemption date otherwise. If undetermined, the time is the periodical return due date or the tax payment date. Additions like interest or penalties are taxable when received by the supplier.
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 determines tax liability: invoice date or payment receipt, with dedicated rules for reverse charge and vouchers.
The time of supply is the earlier of invoice issuance (or last statutory invoice date) and receipt of payment, with payment defined as the earlier of book entry or bank credit. Reverse charge supplies use the earliest of goods receipt, recipient's payment entry (or bank debit), or the day after thirty days from supplier's invoice, defaulting to the recipient's book entry if indeterminate. Voucher supplies use issue date if identifiable or redemption date otherwise. If undetermined, the time is the periodical return due date or the tax payment date. Additions like interest or penalties are taxable when received by the supplier.
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