How to differentiate Time of Supply with Value of supply?
Difference between Value of supply and Time of Supply under GST terms
What is Time of Supply? How does Value of supply work under GST regime? What are the difference between Time of Supply and Value of supply?
Under GST system, the following information explains about Time of Supply and Value of supply.
As per GST terms, Time of Supply is the liability to pay CGST/SGST on the goods shall arise at the time of supply. Value of supply is the value of a supply of goods or services or both shall be the transaction value, which is the price actually paid or payable for the said supply of goods or services or both where the supplier and the recipient of the supply are not related and the price is the sole consideration for the supply
The details about Time of Supply and Value of supply with simple language from GST terms have been mentioned in this web blog separately. We suggest you to read these articles on Time of Supply and Value of supply, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Time of Supply and Value of supply separately below. You may kindly read the below links to know more about Value of supply and Time of Supply.
Meaning of term Time of Supply under GST
value of supply under GST
The above information easily explains about Value of supply and Time of Supply.
We hope, you have satisfied with the difference between Time of Supply and Value of supply explained above. Do you have different thought on difference between Value of supply and Time of Supply?
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