Where the payment has been received before the change in rate of tax, but the invoice for the same is issued after the change in rate of tax, then what is the time of supply as per section 14 of the CGST Act, 2017?

CS Executive · Tax Laws and Practice · PYQS · December 2021
Where the payment has been received before the change in rate of tax, but the invoice for the same is issued after the change in rate of tax, then what is the time of supply as per section 14 of the CGST Act, 2017?
(A) The time of supply will be date of receipt of payment or the date of issue of invoice, whichever is earlier
(B) Date of issue of invoice
(C) Date of receipt of payment
(D) None of the above

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B), (C). Official source note: Option B & C are correct as Question does not mention the date of completion of service.

Topics: GST

Open in Interactive Practice Hub · Full Practice Hub · Chapter Weightage · More in this subject

Related Questions in this Topic