Implication of Change in GST Rate on Supply of goods or Services

Hitesh Aggarwal 17 Jun 2019 2,718 Views 0 comment Print Goods and Services Tax | Articles

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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Author Bio

Name: Hitesh Aggarwal

Qualification: Other

Company: Tag Savvy Private Limited

Location: Gurgaon, Haryana, India

Member Since: 24 Apr 2019 | Total Posts: 12

Tag Savvy Private Limited is an Organisation having Experts in the field of Fixed Asset verification, Management , Tagging and Physical Verifiction of all kinds of Inventory . All verifications are done on Mobile Appliaction and Live Audit status is available on management. Our Team is having a Vast View Full Profile