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Time of Supply of goods and Services under GST (TOS) Explained in Tabular Format.
Section 12 of the Central Goods and Services Tax Act, 2017 deals with Time of Supply of goods and Section 13 deals with Time of Supply of Services under GST. Article explains the Provisions related to Time of Supply under GST in Tabular Format which applies to Supply of Goods & Services-
| Description | Section 12 TOS-Goods | Section 13 TOS-Services |
| Norrmal Charge (Supplier is liable to Pay) | Sec 12(2) -Invoice -Last date of invoice Whichever is earlier As per N/N 66/2017 (No TOS is on Advance or receipt) |
Sec 13(2) (a) Invoice within Time (i.e 30 days or 45 days) -Date of Invoice -Payment Received Whichever is Earlier (b)Invoice not within Time -Date of Completion -Payment Received Whichever is Earlier c) if not (a) and (b), date on Which Recipent shows the Receipt of service in the books of Accounts |
| Reverse Charge | Sec 12(3) -Date of Receipt of goods -Date of Payment -31st day from Invoice date of supply Whichever is earlier Proviso- if all the 3 above do not apply- date of book entry |
Sec 13(3) – Date of Payment -61st day from Invoice date of supply Whichever is Earlier Proviso- if above 2 do not apply- date of book entry in the books of account of the Recipent of Supply |
| Excess amount upto 1000 | Proviso to Section 12(2) or 13(2)- TOS to the extent of such excess payment received at option of supplier shall be date of issue of Invoice related to such excess payment | |
| Voucher | Sec 12(4) and 13(4)
(a) Supply against Voucher identifiable -Date of Issue of Voucher (b) Other Case-Date of Redemption |
|
| Residual Case | Sec 12(5) and 12(5)
(a) Periodic Return has to be filed -Date When the return required to be filed (b) Other Case- Date of Payment |
|
| Interest/Late fee or penalty | Sec 12(6)/13(6)
Date on which supplier receives such Interest , late fee or penalty on delayed payment |
|
| Date of Receipt/Payment | Entry in the Books of Account or Bank Realisation Whichever is Earlier. | |
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