web analytics

In this case, time of Supply of Goods and Services is Relevant

Time of Supply in case of Goods in Reverse Charge

Time of Supply in case of Service in Reverse Charge

It is the earlier of

  1. Date of Payment
  2. 30 Days of Invoice Date
  3. Date of Receipt of Goods

It is the earlier of

  1. Date of Payment
  2. 60 Days of Invoice Date

 

Meaning of Date of payment

It means Date of Receipt of Amount by Recipient in Bank Account

Or

Date of Debit in Books by Recipient ..Whichever is earlier

Example 1

Time of Supply in case of Goods in Reverse Charge

Suppose Sales Made by A to B of Rs 100000

A is Unregistered but B is Registered

Whether Normal Charge or Reverse Charge Applicable

-a-

Reverse Charge is applicable as Seller is Unregistered and Buyer is Registered


Suppose Invoice Issued by A on 29 April

Goods were received by B on 2 May along with the Invoice

Payment made on 15 May by cheque

A received cheque on 16th May and it was cleared on 19 may


What is Date of payment of Goods

View Answer

What is time of supply of goods?

View Answer

When is GST Challan and Return to be deposited in this case

View Answer

What is Date of payment of Service

View Answer

What is time of supply of Service?

View Answer

When is GST Challan and Return to be deposited in this case

View Answer
  1. GST - Goods and Services Tax, India
  2. GST Computation & Accounting
Ask Download

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
  • Shalini Shaluu's image
    Shalini Shaluu
    Dec. 4, 2017, 9:03 p.m.
    Time of supply types


    View answer
  • subhan ansari's image
    Dear Sir
    In GST regime how goods return shall be effected
    If
    1. Supply was to a registered person
    2.Supply was to a unregistered person




    How stock transfer between interstate branches will be made?
    What if receiving branch is unregistered and returns goods supplied to it.


    Thank you
    View answer
  • Vishal Gupta's image

    Screenshot_20171103-164904.jpg

    Pls also provide the answers of these questions.

    View answer
  • Vishal Gupta's image

    Screenshot_20171103-164714.jpg

    Pls also provide the answers of these questions

    View answer
  • Ankit Gwalani's image
    Goods transported by A from delhi to B mumbai. 
    Transport charges paid by B on receipt of goods in mumbai.
    GST ₹56 mentioned on the cash receipt issued to B (on amount of ₹1120) to be paid by B

    In this case GST ₹56 will be recorded as IGST ₹56 or SGST and CGST ₹28 each

    Please let me know and what's the rationale for the same. Thank you
    View answer
Jail