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Time of supply – tax points (India)

The time of supply must be determined by the supplier for purpose of ascertaining the point of time at which the liability to pax tax arises.

The basic tax point for goods is the earlier of:

1. Ìý

   •ÌýÌýÌýÌý the date of issue of the invoice; or

2. Ìý

   •ÌýÌýÌýÌý the last date on which the supplier is required to issue the invoice.

In the case of liability to pay tax under the reverse charge mechanism, the time of supply is the earlier of:

1. Ìý

   •ÌýÌýÌýÌý the date of receipt of the goods;

2. Ìý

   •ÌýÌýÌýÌý the date immediately following 30 days from the date of invoice issued by the supplier; or

3. Ìý

   •ÌýÌýÌýÌý the date of payment.

The basic tax point for services is the earlier of:

1. Ìý

   •ÌýÌýÌýÌý the date of issue of the invoice (or the date of provision of the services where the invoice is not issued within the statutory time period); or