There was decrease in tax rate from 24% to 20% w.e.f. 1.6.2018. Which of the following rate is applicable when invoice was issued after change in rate of tax in June 2017 but payment received and goods supplied in April 2017?
Aug. 09, 2017
(a) 20% as it is lower of the two
(b) 24% as it is higher of the two
(c) 24% as two of the three factors occurred prior to rate change
(d) 20% as one of the factors occurred after rate change