Determine the time of supply (TOS) by giving reason in brief in each of the following cases in accordance with the provisions of CGST Act, 2017: (iv) Ankit Kumar purchased some goods covered under reverse charge mechanis
CS Professional · Advanced Tax Laws · PYQS · June 2022
Determine the time of supply (TOS) by giving reason in brief in each of the following cases in accordance with the provisions of CGST Act, 2017: (iv) Ankit Kumar purchased some goods covered under reverse charge mechanism. The goods received on 19th June, 2021, Date of invoice is 14th May, 2021 and the payment is made on 22nd June, 2021.
Answer & Explanation:
Case Time of Supply (TOS) Reason (iv) 14th June, 2021 As per Section 12(3) In case of supply of reverse charge on goods time of supply is (a) date of receipt of goods; or (b) date of payment; or (c) date immediately following 30 days from the issue of invoice, whichever is earlier. Thus, Time of supply of goods under reverse charge is 14th June, 2021.
Topics: GST
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