Impact of Revised GST Rates on Time of Supply: Determining Time of Supply for Invoices.

• Time of supply is crucial for determining when to pay tax and file GST returns
• Section 14 of GST Act provides provisions for time of supply for goods and services
• For goods, time of supply is earliest of invoice issue, payment receipt, or last date for invoice issue
• For services, time of supply is earliest of invoice issue, payment receipt, or date of supply if no invoice
• Tax rate changes impact time of supply, depending on when goods/services were supplied and when payment was made
• Date of receipt of payment is considered as the date of credit in the bank account, after four working days

Source: taxscan.in

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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