TaxTMI 
TaxTMI 
TaxTMI 
Sir
In our trade the practice of payment to the vendor is from 3 to six months and sometimes more.
I would like to know the implications of the GST in this situation.
Thanx
Arun
payment after three monts
Arun Aggarwal
Understanding GST: Tax Due on Earliest of Invoice Date, Service Completion, or Payment Receipt, Even with Delayed Payments. A user inquired about the implications of the Goods and Services Tax (GST) on delayed payments, common in their trade where vendors are paid after three to six months or longer. A respondent clarified that, under GST, tax must be paid based on the earliest of the invoice date, completion of service, or receipt of payment, regardless of when the payment is actually received. The original inquirer acknowledged the response with thanks. (AI Summary)