Is supply considered to be made on the basis of Payment made or the amount stated in the invoice, c…
Is supply considered to be made on the basis of Payment made or the amount stated in the invoice, considering the former is greater than the latter one?
According to the CGST act, The time of supply of goods shall be the earlier of the following dates, namely:—
(a) the date of issue of invoice by the supplier or the last date on which he is required, under sub-section (1) of section 31, to issue the invoice with respect to the supply; or
(b) the date on which the supplier receives the payment with respect to the supply:
Provided that where the supplier of taxable goods receives an amount up to one thousand rupees in excess of the amount indicated in the tax invoice, the time of supply to the extent of such excess amount shall, at the option of the said supplier, be
the date of issue of invoice in respect of such excess amount.
