Section 14 of CGST Act, 2017, Change in rate of tax in respect of supply of goods or services

Posted on 18 May 2023 Category : GST Law

Section 14 of CGST Act ,Change in rate of tax in respect of supply of goods or services, GST India

Click here to know GST rate of your goods or service

The below post explains about Change in rate of tax in respect of supply of goods or services under section 14 of CGST Act,2017

Section 14 of CGST Act, 2017 explains Change in rate of tax in respect of supply of goods or services as below: (The amendments if any will also be updated here soon).

The extract of Section 14 of CGST Act,2017 quoted below:

14 Change in rate of tax in respect of supply of goods or services.

14. Notwithstanding anything contained in section 12 or section 13, the time of supply,

where there is a change in the rate of tax in respect of goods or services or both, shall be

determined in the following manner, namely:––

(a) in case the goods or services or both have been supplied before the change

in rate of tax,––

(i) where the invoice for the same has been issued and the payment is also

received after the change in rate of tax, the time of supply shall be the date of

receipt of payment or the date of issue of invoice, whichever is earlier; or

(ii) where the invoice has been issued prior to the change in rate of tax but payment is received after the change in rate of tax, the time of supply shall be the date of issue of invoice; or

(iii) where the payment has been received before the change in rate of tax,

but the invoice for the same is issued after the change in rate of tax, the time of

supply shall be the date of receipt of payment;

(b) in case the goods or services or both have been supplied after the change in

rate of tax,––

(i) where the payment is received after the change in rate of tax but the

invoice has been issued prior to the change in rate of tax, the time of supply shall

be the date of receipt of payment; or

(ii) where the invoice has been issued and payment is received before the

change in rate of tax, the time of supply shall be the date of receipt of payment or

date of issue of invoice, whichever is earlier; or

(iii) where the invoice has been issued after the change in rate of tax but

the payment is received before the change in rate of tax, the time of supply shall

be the date of issue of invoice:

Provided that the date of receipt of payment shall be the date of credit in

the bank account if such credit in the bank account is after four working days

from the date of change in the rate of tax.

Explanation.––For the purposes of this section, “the date of receipt of

payment” shall be the date on which the payment is entered in the books of

account of the supplier or the date on which the payment is credited to his bank

account, whichever is earlier.

The above information clarifies about Change in rate of tax in respect of supply of goods or services under section 14 of CGST Act,2017.

If you have any comments about Section 14 of CGST Act, 2017 explaining Change in rate of tax in respect of supply of goods or services, share below your thoughts:

Click here to know GST rate of your goods or service

GST Exemption list of goods and services

Find HSN number or Service tariff code for GST

Indian GST Laws

How to export your goods?

How to get Export Order?

GST Registration Guidelines

Learn Imports and Exports business free of cost

Find HSN code of your product.

Manner of recovery of credit distributed in excess, CGST Act,2017

Persons not liable for registration CGST Act, 2017

CGST Act, 2017 Procedure for registration