Let’s say there was increase in tax rate from 18% to 20% w.e.f. 1.6.2017. What is the tax rate applicable when services provided and invoice issued before change in rate in April 2017, but payment received after change in rate in June 2017?

Let’s say there was increase in tax rate from 18% to 20% w.e.f. 1.6.2017. What is the tax rate applicable when services provided and invoice issued before change in rate in April 2017, but payment received after change in rate in June 2017? https://www.taxtmi.com/acts?id=22281 Where services were provided and an invoice issued before the rate change effective 1.6.2017, the pre-change tax rate applies; payment received after the effective date does not affect the applicable rate, because the time of supply-the date of provision and invoicing-determines tax rate applicability. en-us Thu, 22 Sep 2016 16:03:30 +0530 Thu, 22 Sep 2016 16:03:30 +0530 TaxTMI RSS Generator Let’s say there was increase in tax rate from 18% to 20% w.e.f. 1.6.2017. What is the tax rate applicable when services provided and invoice issued before change in rate in April 2017, but payment received after change in rate in June 2017? https://www.taxtmi.com/acts?id=22281 Where services were provided and an invoice issued before the rate change effective 1.6.2017, the pre-change tax rate applies; payment received after the effective date does not affect the applicable rate, because the time of supply-the date of provision and invoicing-determines tax rate applicability. Act-Rules Bills Thu, 22 Sep 2016 16:03:30 +0530 https://www.taxtmi.com/acts?id=22281