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 goods are supplied and invoice issued after change in rate in June 2017, but full advance payment was already received in April 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 goods are supplied and invoice issued after change in rate in June 2017, but full advance payment was already received in April 2017? https://www.taxtmi.com/acts?id=24387 When supply of goods and issuance of invoice occur after a notified tax rate increase, the new tax rate applies even if full advance payment was received before the increase, because the time of supply-supply and invoicing-determines the applicable tax rate. en-us Mon, 03 Apr 2017 14:54:19 +0530 Mon, 03 Apr 2017 14:54:19 +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 goods are supplied and invoice issued after change in rate in June 2017, but full advance payment was already received in April 2017? https://www.taxtmi.com/acts?id=24387 When supply of goods and issuance of invoice occur after a notified tax rate increase, the new tax rate applies even if full advance payment was received before the increase, because the time of supply-supply and invoicing-determines the applicable tax rate. Act-Rules Bills Mon, 03 Apr 2017 14:54:19 +0530 https://www.taxtmi.com/acts?id=24387