Dear Professionals,
Works Contract executed in June 2017 , all the materials was consumed but payment will be received in July 2017. The question is whether the tax laws of VAT applicable or the provisions of GST will be applied.
Regards
J S Uppal
Tax Consultant
Tax Consultant Seeks Clarity on GST vs. VAT for June 2017 Works Contract; Section 13(2) of CGST Act Cited A tax consultant inquired about the applicable tax law for a works contract executed in June 2017, with payment received in July 2017, questioning whether VAT or GST should apply. A respondent clarified using Section 13(2) of the CGST Act, 2017, explaining that the time of supply of services is determined by the earliest of the invoice issuance, payment receipt, or service provision. The respondent advised applying these criteria to decide if GST or VAT is applicable, considering the timing of the payment and the issuance of the invoice. (AI Summary)
Goods and Services Tax - GST
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