- Become a Law Expert with Law Legends
Recent Articles Of GST
GST Rate Changes
In GST scenario, change in the rate of tax are frequently change. Due to this, there may be situations where in GST rate are different at the time of actual supply of goods and different at the time of receipt of payment.
In this article, we will discuss implication of these rate change on the time of supply and consequently the tax rate applicable to the tax payer.
As per Section 14 Change in rate of tax in respect of supply of goods or services - 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:-
Time of supply in case of change in rate of tax.
| Supply | Issue of invoice | Receipt of payment | Time of supply |
| Before | Before | After | Date of issue of invoice. |
| Before | After | Before | Date of receipt of payment. |
| Before | After | After | Date of issue of invoice or date of receipt of payment, whichever is earlier. |
| After | After | Before | Date of issue of invoice. |
| After | Before | After | Date of receipt of payment. |
| After | Before | Before | Date of issue of invoice or date of receipt of payment, whichever is earlier. |
