GST

1. Time of Supply
Goods & Services

2. Under section 12/ Sec 13 of the CGST Act
TIME OF SUPPLY
 If the supplier receives an amount up to Rs. 1000 in excess of the invoice amount, the time of supply
for the extra amount shall be the date of issue of invoice (at the option of the supplier).
• The time of supply of goods shall be the earlier of the following dates –
• The date of issuing of invoice (or the last day by which invoice should have been
issued) OR
• The date of receipt of payment
Goods
• The time of supply of services shall be the earlier of the following dates:-
• The date of issuing invoice (or the last day by which invoice should have been
issued)OR
• The date of receipt of payment
Services

3. For (b)- the date of receipt of payment shall be earlier of-
1. The date on which he entered the payment in his books OR
2. The date on which the payment is credited to his bank account
Example:
 (a) Date of invoice 15th May 2018
(b) Date of receipt of payment 10th July 2018
(c) Date when supplier recorded receipt in books 11th July 2018
Time of supply will be 15th May 2018

4. Time of supply under reverse charge
 If it is not possible to determine the time of supply under (a), (b) or (c), the time of supply shall be
the date of entry in the books of account of the recipient.
GOODS
• the date of receipt of goods OR
• the date of payment OR
• the date immediately after THIRTY (30) days from the date of issue of invoice
by the supplier
SERVICES
• The date of payment
• The date immediately after SIXTY (60) days from the date of issue of
invoice by the supplier

5. (b)- the date of payment shall be earlier of-
1. The date on which the recipient entered the payment in his books
OR
2. The date on which the payment is debited from his bank account
3. Example:
(a) Date of receipt of goods 15th May 2018
(b) Date of payment 15th July 2018
(c) Date of invoice 1st June 2018
(d) Date of entry in books of receiver 18th May 2018
Time of supply of goods 15th May 2018
If for some reason time of supply could not be determined supply under (a), (b) or (c) then it would
be 18th May 2018 i.e., date of entry

6. Time of supply for vouchers
In case of supply of vouchers the time of supply is-
(a) The date of issue of voucher, if the supply can be identified at that point OR
(b) The date of redemption of voucher, in all other cases;
If it is not possible to determine the time of supply by the above provisions, then it will be-
 The date on which a periodical return has to be filed
or
 The date on which the CGST/SGST is paid, in any other case.
The time of supply to the extent it relates to an addition in the value of supply by way of interest, late
fee or penalty for delayed payment of any consideration shall be the date of which the supplier receives
such addition in value