https://www.taxtmi.com/forum/issue?id=117060 Time of supply arises when an advance is received, making that advance taxable at that time unless an exemption shifts time of supply to invoice date; advances must be evidenced by a receipt voucher, provisionally taxed at a default rate if rate or nature is indeterminate, and tax paid on advances is adjustable against later invoices or refundable. Agreements to sell do not constitute tax invoices. Procedural requirements include separate advance accounts, specific return reporting of advances and adjustments, and issuance of refund vouchers or credit notes where supplies are not completed. en-us Wed, 03 Mar 2021 17:20:54 +0530 Thu, 23 Jan 2025 15:54:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117060 Time of supply arises when an advance is received, making that advance taxable at that time unless an exemption shifts time of supply to invoice date; advances must be evidenced by a receipt voucher, provisionally taxed at a default rate if rate or nature is indeterminate, and tax paid on advances is adjustable against later invoices or refundable. Agreements to sell do not constitute tax invoices. Procedural requirements include separate advance accounts, specific return reporting of advances and adjustments, and issuance of refund vouchers or credit notes where supplies are not completed. Discussion-Forum GST Wed, 03 Mar 2021 17:20:54 +0530 https://www.taxtmi.com/forum/issue?id=117060