Amendment status not verified — confirm the current text below against the official source.
(l) The volue of o supply of goods or services or both sholl be the tronsoction volue, which is the price octuolly poid or poyoble lor the soid supply of goods or seMces or botr where fre supplier ond the recipient ofthe supplyore not reloted ond the price is the sole considerotion for the supply. (2) The volue of supply sholl include- (o) ony toxes, duties, cesses, fees ond chorges levied under ony low for the time being in force other thon thisAct the Centrol Goods ond Services Tox Act ond the Goods ond Services Tox (Compensotion to Stotes) Act, if chorged seporotely by the supplier; (b) ony omount *rot tre supplier is lioble to poy in relotion to such supply but which hos been incurred by the recipient of the supply ond not included in the price octuolly poid or poyoble for the goods or services or both; Volue of toxoble supply. II' (ii) where the invoice hos been issued prior to the chonge in rote oI tox but poyment is received ofter the chonge in rote oI tox, the time of supply sholl be the dote of issue of invoice; or (iii) where the poyment hos been received before the dunge in rote of tox, but the invoice for the some is issued ofter the chonge in rote of tox, the time of supply sholl be the dote of receipt of poyment; (b) in cose the goods or services or both hove been supplied ofter the chonge in rote of tox,- (i) where fie poyment is received ofter the chonge in rote o{ tox but the invoice hos been issued prior to the chonge in rote of tox, the time of supply sholl be the dote of receipt of poyment; or (ii) where the invoice hos been iss ued ond poyment is received before *re chonge in rote of tox, the time of supply sholl be the dote of receipt of poyment or dote of issue ol invoice, whichever is eorlier; or (iii) where the invoice hos been issued ofter the chonge in rote of tox but the poyment is received beJore tre chonge in rote of tox, the time of supply sholl be the dote of issue of invoice: Provided thot the dote of receipt of poyment sholl be the dote ofcredit in the bonk occount if such credit in ttl (b) the dote of redemption of voucher, in oll other coses. (5) Where it is not possible to detemine lhe time of supply under the provisions of subsection (2) or sub.sedion (3) or sub-section (4), the time of supply sholl - (o) in o cose where o periodicol return hos to be liled, be the dote on which such return is to be filed; or (b) in ony other cose, be the dote on which tle tox is poid. (6) The time of supply to the extent it relotes to on oddition in the volue of supply by woy of interest, lote fee or penolty lor deloyed poyment of ony considerotion sholl be the dote on which the supplier receives such oddition in volue.