Article discusses Implication of Change in the Rate of Tax (GST) In case the goods or Services or both have been supplied before the change in the rate of tax, In case the goods or Services or both have been supplied before the change in the rate of tax, In case the goods or Services or both have been supplied before the change in the rate of tax, In case the goods or Services or both have been supplied after the change in the rate of tax, In case the goods or Services or both have been supplied after the change in the rate of tax and In case the goods or Services or both have been supplied after the change in the rate of tax.

Change in Rate of Tax in respect of Supply of goods or Services (Section 14)
In case the goods or Services or both have been supplied before the change in the rate of tax Invoice issued  and payment received after the change in the rate of tax Time of Supply , Earliest of the Following
Receipt of Payment or
the date  of issue of Invoice
Supply 25.08.2018
Invoice 01.09.2018
Payment 05.09.2018
Time of supply will be 01.09.2018
In case the goods or Services or both have been supplied before the change in the rate of tax Invoice has been issued prior to change  but payment is received after the change in the rate of tax Time of Supply ,
the date  of issue of Invoice
Supply 25.08.2018
Invoice 26.08.2018
Payment 05.09.2018
Time of supply will be 26.08.2018
In case the goods or Services or both have been supplied before the change in the rate of tax payment is received  prior to change  but Invoice has been issued after the change in the rate of tax Time of Supply ,
Receipt of Payment
Supply 25.08.2018
Invoice 01.09.2018
Payment 27.08.2018
Time of supply will be 27.08.2018
In case the goods or Services or both have been supplied after the change in the rate of tax Invoice has been issued prior to change  but payment is received after the change in the rate of tax Time of Supply ,
Receipt of Payment
Supply 01.09.2018
Invoice  25.08.2018
Payment 05.09.2018
Time of supply will be 05.09.2018
In case the goods or Services or both have been supplied after the change in the rate of tax Invoice issued  and payment received before the change in the rate of tax Time of Supply , Earliest of the Following
Receipt of Payment or
the date  of issue of Invoice
Supply 01.09.2018
Invoice  25.08.2018
Payment 26.09.2018
Time of supply will be 25.08.2018
In case the goods or Services or both have been supplied after the change in the rate of tax payment is received  prior to change  but Invoice has been issued after the change in the rate of tax Time of Supply ,
the date  of issue of Invoice
Supply 01.09.2018
Invoice  02.09.2018
Payment 26.09.2018
02.09.2018

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