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Time of Supply of Advance received for future supply
Case Law Details
- Case Name
- In re Uttar Pradesh Avas Evam Vikas Parishad (GST AAAR Uttar Pradesh)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- AAAR, AAR Uttar Pradesh, Advance Rulings
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In re Uttar Pradesh Avas Evam Vikas Parishad (GST AAAR Uttar Pradesh)
Coming to the value of taxable supply in case of advance payment, we observe that explanation given in the sub Section 2 of Section 13 of the CGST Act, 2017 provides that-:
“Explanation- For the purpose of clause (a) and (b)-
(i) the supply shall be deemed to have been made to the extent it is covered by the invoice or, as the case may be, the payment.”
We also observe that the issue regarding advance payment received has been addressed in the flyer issued by the Central Board of Indirect Taxes and Customs
“...
