Time of Supply of Goods and Services ( Point of Taxation )

Time of Supply of goods or services as per GST / Point of Taxation:

Normal Provision for goods and/or services:

(i) the date of issue of invoice or the last date under GST law on which he is required to issue invoice in the case of goods and date of provision of service if the invoice is not issued within the period prescribed under GST law

(ii) date on which payment is entered in the books or credited to the supplier’s bank account.

In the case of services, if the above the two norms are not met, then the date of receipt of services as per the books of the accounts of the recipient.

whichever is earlier

Under Reverse Charge Mechanism (Receiver is liable to pay the tax liability)

For Goods

(i) Date of receipt of goods or

(ii) Date on which the payment is made or 

(iii) Date immediately following 30 days from the date of issue of invoice by supplier.

whichever is earlier

For Services

(i) Date on which the payment is made or

(ii) Date immediately following 60 days from the date of issue of invoice by the supplier.

whichever is earlier