Time of supply clarified for deferred spectrum payments: GST under reverse charge payable when instalments are due or paid. Clarifies that spectrum allocation supplied by DOT to telecom operators is taxable on a reverse charge basis and, where payment is by deferred instalments, constitutes a continuous supply of services. For such reverse-charge continuous supplies, time of supply is the earlier of payment date recorded in recipient's books or the date immediately following sixty days from issue of the supplier's invoice/document; where the contract specifies ascertainable payment due dates, a tax invoice must be issued on or before each due date. GST is payable when instalments are due or paid, whichever is earlier.
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Time of supply clarified for deferred spectrum payments: GST under reverse charge payable when instalments are due or paid.
Clarifies that spectrum allocation supplied by DOT to telecom operators is taxable on a reverse charge basis and, where payment is by deferred instalments, constitutes a continuous supply of services. For such reverse-charge continuous supplies, time of supply is the earlier of payment date recorded in recipient's books or the date immediately following sixty days from issue of the supplier's invoice/document; where the contract specifies ascertainable payment due dates, a tax invoice must be issued on or before each due date. GST is payable when instalments are due or paid, whichever is earlier.
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