Amendment status not verified — confirm the current text below against the official source.
(l) The liobility to poy tox on services sholl orise ot the time ol supply, os determined in occordonce witlr the pro sions oI this section. (2) The time of supply of services sholl be tre eorliest of tre following dotes, nomely:- Time of supply of services. ll0 extent of such excess omounl sholl, ot the option of the soid supplier, be lhe dote of issue of invoice in resped ol such excess omount. Explonolion l.--For the purposes ol clouses (o) ond (b), "supply" sholl be deemed to hove been mode to the extent it is covered by the invoice or, os the cose moy be, the poyment. Explanotion 2.-For the purposes ol clouse (b), the dote on which lhe supplier receives the poyment" sholl be the dote on which the poyment is entered in his books of occount or the dote on which the poyment is credited to his bonk occount, whichever is eorlier. (3) ln cose of supplies in respect of which tox is poid or lioble to be poid on reverse chorge bosis, the dme of supply shollbe the eorliest of the following dotes, nomely:- (o) the dote oI the receipt of goods; or (b) the dote o{ poyment os entered in the books of occount of the recipient or the dote on which the poyment is debited in his bonk occount, whichever is eorlier;or (c) the dote immediotely lollowing thirty doys from the dote of issue of invoice or ony other document, by whotever nome colled, in lieu thereof by the supplier: 109 of tre Centrol Goods ond Services Tox Act sholl be deemed to be o notificotion or, os the cose moy be, on order issued under this Act. Explonotion.-For the purposes of this section, where on exemption in respect of ony goods or services or both from the whole or port ofthe tox levioble thereon hos been gronted obsolutely, the registered person supplying such goods or services or both sholl not collect the tox, in excess of the effedive rote, on such supply of goods or services or both. CHAPTER.IV TIMEAND VALUE OF SUPPLY