There was increase in GST rate from 12% to 18% with effect from 1st January, 2022. Which of the following rate is applicable when service supplied and invoice raised after change in rate in January 2022, but payment rece

CS Executive · Tax Laws · PYQS · December 2022
There was increase in GST rate from 12% to 18% with effect from 1st January, 2022. Which of the following rate is applicable when service supplied and invoice raised after change in rate in January 2022, but payment received in November 2021.
(A) 12% as it is lower of the two
(B) 18% as it is higher of the two
(C) 12% as payment was prior to change in effective rate of tax
(D) 18% since invoice was issued and supply was made after change in effective rate of tax

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: GST

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