https://www.taxtmi.com/article/detailed?id=14582 Unbilled Revenue recognised on an accrual basis is recorded as revenue in the profit and loss account and as a current asset on the balance sheet. For income tax purposes it is taxable when earned under the mercantile system, subject to the assessee's accounting method. GST is not automatically payable on recognition; GST liability depends on the time of supply rules-invoice date, payment receipt, or specified completion triggers-and advances trigger immediate GST. en-us Thu, 05 Jun 2025 08:27:57 +0530 Thu, 05 Jun 2025 08:27:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=14582 Unbilled Revenue recognised on an accrual basis is recorded as revenue in the profit and loss account and as a current asset on the balance sheet. For income tax purposes it is taxable when earned under the mercantile system, subject to the assessee's accounting method. GST is not automatically payable on recognition; GST liability depends on the time of supply rules-invoice date, payment receipt, or specified completion triggers-and advances trigger immediate GST. Articles Goods and Services Tax - GST Thu, 05 Jun 2025 08:27:57 +0530 https://www.taxtmi.com/article/detailed?id=14582