Applicability of GST on payment prior to dispatch of goods

Applicability of GST on payment prior to dispatch of goods https://www.taxtmi.com/forum/issue?id=112819 The time of supply is the date of receipt of payment, which determines when GST liability arises; payments received before dispatch are advances if recorded as such and attract GST at receipt if supply occurs in a later tax period, whereas payments and supply in the same tax period correspond to GST on the supply. A receipt voucher may be issued where the recipient requests one, and consistent accounting and invoicing should prevent duplication. en-us Fri, 15 Sep 2017 15:05:12 +0530 Thu, 23 Jan 2025 15:55:40 +0530 TaxTMI RSS Generator Applicability of GST on payment prior to dispatch of goods https://www.taxtmi.com/forum/issue?id=112819 The time of supply is the date of receipt of payment, which determines when GST liability arises; payments received before dispatch are advances if recorded as such and attract GST at receipt if supply occurs in a later tax period, whereas payments and supply in the same tax period correspond to GST on the supply. A receipt voucher may be issued where the recipient requests one, and consistent accounting and invoicing should prevent duplication. Discussion-Forum GST Fri, 15 Sep 2017 15:05:12 +0530 https://www.taxtmi.com/forum/issue?id=112819