Amendment status not verified — confirm the current text below against the official source.
Notwithstonding onything contoined in sedion 12 or section I 3, the time of supply, where there is o chonge in the rote of tox in respect o{ goods or services or both, sholl be determined in the following monner, nomely:- (o) in cose the goods or services or botr hove been supplied before fie chonge in rote of tox,- (i) where he invoice for the some hos been issued ond the poyment is olso received ofter the chonge in rote of tox, the time oI supply sholl be the dote of receipt of poyment or the dote of issue of invoice, whichever is eorlier; or Chonge in rote of tox in resped of supply of goods or services. u3 occount of tre supplier or tte dote on which the poyment is credited to his bonk occount whichever is eorlier. (3) ln cose oI supplies in respect of which tox is poid or lioble to be poid on reverse chorge bosis, the time of supply sholl be the eorlier of the following dotes, nomely:- (o) the dote of 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 (b) the dote immediotely following sixty doys from the dote of issue ol invoice or ony other document, by whotever nome colled, in lieu thereof by the supplier: Provided thot where it is not possible to determine the time of supply under clouse (o) or clouse (b), the time of supply sholl be the dote of entry in the books of occount of the recipient of supply: Provided further thot in cose of supply by ossocioted enterprises, where the supplier of service is locoted outside lndio, the time of supply sholl be the dote of entry in the books of occount of the recipient of supply or the dote of poyment, whichever is eorlier. (4) ln cose of supply of vouchers by o supplier, the time of supply sholl be -- (o) the dote of issue ofvoucher, if the supply is identilioble ot thot poin! or ll2 (o) the dote of issue ol invoice by he supplier, il the invoice is issued within the period presoibed under sub-section (2) of section 3l or the dote of receipt of poyment, whichever is eorlier; or (b) the dote of provision of service, if the invoice is not issued within the period pescribed under subseclion (2) of section 3l or the dote ol receipt of poyment, whichever is eorlier; or (c) the dote on which the recipient shows the receipt of services in his books of occount, in o cose where the provisions of clouse (o) or clouse (b) do not opply: Provided thot where the supplier oftoxoble service receives on omount upto one thousond rupees in excess of the omount indicoted in the tox invoice, tre time of supply to $e extent of such excess omount sholl, ot the option ol tre soid supplier, be the dote of issue of invoice reloting to such excess omount. Explonotion.-For the purposes of clouses (o) ond (b) - (i) the supply sholl be deemed to hove been mode to the extent it is covered by the invoice or, os the cose moy be, the poymenq (ii) "the dote oI receipt of poyment" sholl be the dote on which the poyment is entered in the books of l Provided thot where it is not possible to determine the time of supply under clouse (o) or clouse (b) or clouse (c), the time of supply sholl be the dote of entry in the books of occount of the recipient of supply. (4) ln cose of supply of vouchers by o supplier, the time of supply sholl be (o) the dote of issue of voucher, if $e supply is identifioble ot thot point; or (b) the dote of redemption of voucher, in oll other coses. (5) Where it is not possible to detetmine tre lime of supply under the provisions of sub-section (2) or sub.section (3) or sub-section (4), the time of supply sholl- (o) in o cose where o periodicol return hos to be filed, be the dote on which such return is to be filed; or (b) in ony other cose, be the dote on which the tox is poid. (6) The time of supply to the extent it relotes to on oddition in the volue ol supply by woy of interest, lote fee or penolty for deloyed poyrnent of ony considerotion sholl be the dote on which the supplier receives such oddition in volue.