Meaning of term Time of Supply under GST

Posted on 10 June 2022 Category : GST terms

Time of Supply under GST

The details about Time of Supply under GST are explained here.

Time of Supply (Sections 12 & 13 of the CGST Act)

The liability to pay CGST/SGST on the goods shall arise at the time of supply. The time of supply of goods would be earlier of the following dates, namely:

the date of issue of invoice by the supplier or the last date on which he is required to issue the invoice with respect to the supply; or
the date of receipt of payment by the supplier

However, in case of supplies in respect of which tax is paid or liable to be paid on reverse charge basis, the time of supply shall be the earliest of the following date, namely: -

the date of receipt of goods, or
the date of payment as entered in the books of account of the recipient or the date on which the payment is debited in his bank account, whichever is earlier; or
the date immediately following 30 days from the date of issue of invoice or any other document, by whatever name called, in lieu thereof by the supplier:

In case of service, the time of supply shall be earlier of the following dates, namely: -

the date of issue of invoice by the supplier if the invoice is issued within the prescribe period (i.e. 30 days)
The date of provision of service, if invoice is not issued within the prescribed period
The date on which the recipient shows the receipt of services in his books of account, in the case (a) and (b) do not apply.

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