Time of supply for preparing Service Invoice

[Kaustubh Karandikar]

XYZ is supplying goods on rental basis where he will be charging the rent on monthly basis. If he supplies the goods say on 10^th November, when he is supposed to issue the Service Invoice? 1) Within 30 days i.e. on or before 10^th December or 2) on or before 30^th November? When he will be liable to pay GST?

AI Summary

Debate on Timing for Service Invoice Issuance: Within 30 Days or Month-End? Section 31(5) GST Act Discussed. A discussion on the timing of issuing a service invoice for goods supplied on a rental basis under GST regulations. The main question is whether the invoice should be issued within 30 days of supply (by 10th December) or by the end of the month of supply (30th November). Respondents agree that the invoice can be issued within 30 days or at the month's end, with GST payable upon invoice issuance. One respondent suggests it falls under continuous supply of services, referencing section 31(5) of the GST Act.