Yes, friends, how are you all? Good morning, good evening,
good afternoon.
Whoever is watching me at this time, my heartiest greetings
to that person.
Friends, welcome to us.
Absolutely fresh, absolutely fresh.
Absolutely, as they say, bring the fruit after watering it.
That is an absolutely fresh lecture of ours.
It is a new topic, a new topic, a new morning, a new day.
Sir, the name of our topic today is Time of Supply.
Sir, it is a new day and a new morning in a new day, a new
light, a new ray of hope, sir.
A new morning always brings the same ray of hope to you
that whatever will happen today will be better than before.
The last day, the previous day, whatever happened in your
life, whether it was good or bad, it stayed there.
Whether it was good or bad, whatever happened in the last
day, it stayed there.
Today you have to start fresh.
If yesterday was a very good day for you, then try to make
today a little better.
And if the last day was bad for you, then today, with a
fresh thought, with a fresh mind, think about it.
Why did you have a bad day?
Did I make a mistake in the end?
Wasn't there any problem in our behaviour?
There was, so think about it and change it, sir.
Sir, every day is a new birth for you.
It is written in the scriptures that every day is a new
birth for you.
When you wake up, you start your day with a fresh mind.
Don't start it by fighting, start it in a calm way.
A new dawn brings a new ray of hope that whatever you are
today, will be better than the previous day.
When you see a new ray of hope, nature is showing you a new
ray of hope, then why don't you also work hard and stand on
that hope?
Sir, this is it. There are new things.
Today I am going to start a new topic.
Whatever happened in the previous topics, whatever it was,
less or more, stop it once there.
If you didn't understand the point, leave it pending there.
Leave it for a while.
Cover this topic.
Then go back to that topic.
Try to understand whatever is left.
If you didn't understand a little bit there, because of
that you will also spoil this topic.
This topic is a fresh topic.
Read it with a fresh mindset.
Let's start, sir.
Time of Supply
This is the name of the topic.
Time of Supply
What does it mean, sir?
We have been doing supply till now.
What does supply mean?
What is supply?
When is supply?
What are the schedules?
Schedule 1, Schedule 2, Schedule 3
We have been doing all these things till now.
But what does this time of supply mean?
Time of Supply means
If you read it in detail, if you understand it in detail,
then time of supply means at what time, on what day your
supply will be accepted.
For example, you sell goods.
For example, you sell laptops.
You have a business of laptops.
I came to you today to buy a laptop.
You gave me a laptop.
You handed it over to me.
So, on what day should the sale of goods be accepted?
This is a simple case.
There is another case.
For example, you are the owner of a construction company.
And I sell bricks to you.
I sell bricks to you.
Now, in a construction company, there is a building.
Building construction takes time.
You gave me a contract that as it is, you should supply
bricks to me.
Or once in a month, you should supply bricks to me.
Or whenever I get a new floor, you should come and supply
bricks to me.
What am I doing?
I am supplying goods.
But on what date will this supply be accepted?
On what day will it be accepted that I have supplied it on
this day?
We read those things in this chapter.
On what day is this supply accepted?
For example, you have hired a lawyer.
You have hired a lawyer.
You are a big corporate.
For example, you are the owner of Reliance Industries.
Assume for a while that you are the owner of Reliance
Industries.
And you have hired a corporate lawyer.
You had a case.
You have hired a corporate lawyer.
Now, I want to know from you.
There are many services of a lawyer.
First, he will make your papers.
After making the papers, he will file those papers in the
court.
After that, he will go to your lawyer's office.
He will go to your lawyer's office and fight your case.
Now, this whole process is supplying you services.
Supply of services is going on here.
But on what date is this supply accepted?
On what date will this supply be accepted?
That we will learn in this chapter.
On what date is this supply accepted?
How is it calculated?
We will learn that here.
So, what is the need of this?
Why do we need to see what is my time of supply?
After all, what is the requirement that I have to see on
what date I am supplying?
What is the requirement to know the date of supply?
Sir, the requirement is if I get to know if I calculate
that I have supplied in the month of April.
If I get to know that I have a time of supply in April
TOS as you call it in short form.
Sir, you are using short form.
You get confused.
Tell me one thing, when you write on Instagram
B-A-E L-O-L LOL G-G Do we say anything to you?
I have written TOS.
You are confused.
Try to understand.
Come to the topic.
For example, you have decided that why do we have to read
this topic?
First, we have to explain why do we want to read this?
After reading this topic, you will get to know that on
which date will you be supplied?
What is the actual date of supply?
Now, why do we have to find this out?
What is the requirement to find this out?
The requirement to find this out is suppose you get to know
that you have a time of supply in the month of April.
Now, when you file your return, you will file it according
to the month of April.
When the return of the month of April is in the month of
May, you will show the liability of your output tax that
how much tax did you collect from the customer and how much
credit did you take from it.
And this will be your final liability in that month.
This is the requirement.
If I don't know the time of supply, that in which month, on
which date I am supplying, when I don't know this, then in
which month's return,
I will show that
I have supplied something to you today.
Today, you come to my shop.
I have supplied something to you.
I have collected tax from you.
Now, in which month should I deposit that tax?
What do I know?
To sell you the goods,
I have purchased those goods from somewhere.
And when I have purchased those goods,
then I must have filled GST on it.
I must have filled GST on it.
I also need the credit of that GST.
So, in which month will I take the credit?
So, all these things we will get to know only in the time
of supply.
You will get to know that your supply is of this month.
You will read the chapter of time of supply.
You will get to know that you have supplied in this month.
Now, you have supplied in this month.
So, which month is corresponding to this month?
When you have to file your return, that will be clear to
you.
And in the month in which you will file your GST return, in
that month only, you have to show the liability of output
tax.
In that month only, you have to take the credit.
This is the requirement to read the chapter.
So that you get to know that on which date is the supply.
So that you can deposit your tax.
You can take the credit.
You can also deposit the return.
This is the point.
This is the basic gist.
In this, you will read two things.
When you will read the topic, you will read two things.
One is how to calculate time of supply for goods.
And the other is how to calculate time of supply for
services.
This is the point.
Section 12 of CGST Act
Section 13
Section 12 of CGST Act talks about goods.
Section 13 of CGST Act talks about services.
Before we start the topic of time of supply,
I want to tell you a small topic.
That topic tells us that the government has set a time
limit that the government has set a time limit to cut the
bill.
What did I say?
I am saying that the government has set a time limit that
you have to cut the bill till this date.
That means, if a person buys goods from your shop, if a
person buys goods from your shop, to buy the Shariah.
If a person comes to your Shariah shop and asks for a truck
full of Shariah, you have supplied him with Shariah.
Now this section 31, which we will discuss,
will tell you to which date you will have to pay the bill
on the maximum side.
You will pay the maximum bill to the person, you will pay
the invoice to the person, on which it will be written that
Shariah's supply, Shariah's sale price is this much and GST
I have charged this much.
Take this and give me your output tax.
I will collect the output tax from you. All the things you
will write in the invoice.
Now to which date you have to pay the invoice, that will
tell you this point, this topic, section number 31.
Come, let's focus on section number 31, friends.
Let's go.
Section number 31.
What does this section say?
Have a look.
It says, time limit for, can you see this? Time limit for
issue of invoice.
Time limit for issue of invoice for supply of goods under
section 31.
What is the time limit till when you have to issue your
invoice?
Till which time limit you have to pay the bill?
So it says, look, last date on which supplier is required
to issue the invoice is this.
According to section 31, invoice needs to be issued either
before or at the time of removal of the goods, where supply
involves movement, where supply involves movement of the
goods.
Or delivery of goods to the receiver in any other case.
Invoice needs to be issued either before,
or at the time.
At the time of removal of the goods.
Or at the time of removal,
And which case is this, where supply involves movement,
movement of the goods.
Best example, I will give 2-3 examples, things will be
clear.
I, for example,
Sir, let's take this example.
I came to your shop and I said,
Sir, I want to build my house.
I have bought a plot of 40 acres.
In that 40 acres, I will build 3-4 floors.
He said, from where did you buy the plot?
I said, it comes, it is written behind the auto, that I
have booked my dream plot for only Rs.
Plot is a plot.
From there I saw an advertisement.
After seeing the advertisement, I thought I will book my
plot.
So I took a plot of 40 acres and I will build 3-4 floors on
it.
He said, okay.
So give me a lease.
I said, okay.
Now I went to his shop and I made a payment of Rs. 2 lakhs
for the lease.
Now the lease is kept there.
If you go to any leaseholder, outside they have made their
own place, where they sit with a table chair.
And the lease is kept there.
I said, sir, if you give me this, how will I take it?
He said, you see how to take it.
If you do more, I have put these small truckers,
Tambow truckers.
They are mine.
Their money will be spent separately.
I will put the lease in Tambow and you take it to your
house.
He said, okay.
I said, absolutely okay.
You are telling the right thing.
So what did that person do? I gave him a payment of Rs. 2
lakhs.
And I took the lease.
He removed the lease where he had kept it.
Call it a godown or a shop.
He picked up the lease which was kept on the ground and put
it in Tambow.
I made the payment and I picked up the lease and brought it
to my house.
Is this a supply which involves movement of the goods?
Is the movement of the goods happening here?
Weather supply involves movement of the goods.
Yes, it is happening.
Absolutely, sir.
So when should he have paid the bill?
He should have paid the bill either before or at the time
of removal of the goods.
When he has removed the goods.
Whenever he has removed the goods, either he should have
paid before or at the same time.
Sir, how will he pay before?
First, he will cut it in such a way that…
Consider this as the second example.
I brought the goods from him once.
My one float has gone up.
Now I have to get the upper float up as well.
Now I didn't go to the shop again.
I simply called him and said,
Brother, I need the same goods of the same quality for Rs.
2 lakhs.
You have Tambow.
Put it in Tambow and send it to my house.
So in this, the removal can happen after 2 hours.
Now only the shopkeeper will see which goods he needs.
It is possible that the goods will be removed after 2 hours
from his shop.
But can he pay the bill now?
Yes, he can.
This is the right point.
There is no problem.
He has removed the goods from his shop.
Can you understand any other example?
For example, you have ordered something from a factory.
When you go to buy something from someone, he says, I don't
have the goods right now.
You do one thing.
You deposit the advance money.
My factory is behind.
I will send the goods directly from the factory to your
company.
Generally, this happens in companies.
For example, our clothes have work there.
I went to the shopkeeper or some big business man, who is a
wholesaler.
I told him, I need the clothes of this coat.
He said, Sir, how much do you need?
I said, I need 1000 kilos.
I need 1000 kilos of the fabric that comes from his factory.
He said, I don't keep 1000 kilos in my shop.
Yes, my factory is behind.
20 kilometers away from here.
So, I will send the goods directly from the factory to your
company.
You deposit the advance money here.
Within 2-3 hours, I will send the goods directly from your
factory to you.
He said, okay.
So, does the goods involve movement or not?
Is the goods moving?
Is the goods going from the factory to the company?
Is it moving?
If it is moving, then in which category will it come?
It will come here.
The shopkeeper or the wholesaler, when will he pay his bill?
Sir, when will he pay his bill?
At the time of removal.
When he will remove the goods from his factory.
Either he will pay his bill at that time,
or he will pay before that.
It is a simple point.
Any problem?
No problem, Sir.
Come, next.
What is next?
Either pay before or at the time of removal, or before or
at the time of delivery of the goods.
Or making available to the receiver.
Either when you are removing the goods,
when you are removing the goods,
either you pay your bill then, or when you are making the
goods available to the customer,
then you pay your bill.
For example, if a child comes to your shop,
he says, Uncle, give me chocolate.
You say, Okay, son.
You want chocolate, take it.
Or you go to the shop and say, Uncle, give me Thumbs Up.
You drank Thumbs Up.
Now when you are standing at the shop and drinking Thumbs
Up,
does it involve movement?
Is there a movement of goods in this?
You go to the shop, he gives you Thumbs Up, you stand there
and drink it.
You go to the shop, you say, give me chocolate.
He gives you chocolate, you eat it there.
Is there a movement here?
You go to the shopkeeper, you go to the shopkeeper and say,
Brother, give me 2 litres of milk.
He gives it to you, you come home with the milk.
Is there a movement here?
Is there any movement here?
In this case, there is no movement.
So, when there is no movement, what is being done in this
case?
Directly you are making the goods available to the receiver.
You are delivering the goods,
or you are making the goods directly available to the
receiver.
In that case, what will be accepted?
Sir, in that case, what will be accepted?
In that case, what will be accepted?
When do you have to cut the invoice?
Before you are at the time of delivery.
When you are delivering it, then cut it.
When you are making the goods available to the customer,
then cut it.
It is a simple thing.
There are 4 examples.
What was the first example?
The example of Saria.
Saria was saying,
Okay, I will make the goods available to you.
I will make my movement, wherever you want,
I will send the goods there.
I will remove it from my warehouse.
Removal is being done in that case,
in Saria.
Where my warehouse is, it is possible that I have made a
warehouse at the back.
In front of me,
I am sitting with a table chair.
A person is cutting the Saria there.
I have stored the Saria at the back.
I said,
Okay, I will remove it from here and I will send it to your
house.
In that case, the movement of goods was happening.
I was bringing the cloth stall from the factory.
There, the movement of goods was happening. I was sleeping,
but here I am eating a chocolate, drinking Thumb's Up,
going to a milk shop and buying milk.
There is no movement of goods in this.
I paid money and bought the stuff.
It's not like a supplier is dropping me home and saying,
you bought a chocolate for Rs.
5.
Here, I will deliver it to your house for Rs. 5.
It's not like that.
There is no movement of goods in that case.
Whenever the shopkeeper will deliver it to you, whenever he
will give you the goods, he will deduct his bill at that
time and at that time he will deduct his invoice.
This is the point.
Next.
There is a third category.
Continuous Supply of Goods.
What is Continuous Supply of Goods?
Continuous Supply of Goods is such that, like I gave you
the example of bricks a while ago, that you have an
agreement with a construction company.
The construction company says, whenever I will install a
new lantern, a new floor will be installed.
I make big societies.
I have big societies.
I make big societies.
Whenever I will install a new floor, at that time I will
need bricks.
So, you do one thing.
You make bricks.
You supply bricks.
I will call you and tell you that my floor is going to be
installed.
You supply bricks to me.
And such an agreement will continue for 2-3 years.
Because it is a very big project.
It will take 2-3 years to complete.
You keep taking payments from me in between.
So, what is this?
You are supplying bricks on a continuous basis.
This is a category of Continuous Supply of Goods.
So, when do you have to pay the bill in this case?
See what is written in this case.
Invoice should be issued before or at the time of issue of
either statement or whenever you get the payment.
You give him a statement of 2 months or 3 months.
In 3 months, you have consumed so many bricks.
I have supplied so many bricks to you.
When you are making a statement, at that time you have to
pay the bill.
Whenever you are getting a payment, then you can pay the
bill.
This is the point.
Let's come to the last category.
Goods sent or taken on approval for sale or return basis.
What happens in this?
It is like a new product is launched in the market.
For example,
I am a jewellery manufacturer.
I manufacture jewellery.
Sir, do you really do it?
Yes, I do.
Don't you feel it when you see me?
No, I am just giving an example.
I am giving you an example.
For example, I am a jewellery manufacturer.
I make new types of jewellery.
Now I don't know
For example,
I have made a jewellery which is worth 1 crore rupees in
the market.
I have mixed diamonds, silver, gold, everything in it. I
have added everything in it.
Its value is 1 crore rupees.
1 crore rupees.
I have manufactured it.
After manufacturing it, should I keep it at home?
Should I keep it as a showcase at home or should I sell it
in the market?
I will sell it in the market.
Definitely, I will sell it in the manufacturing.
Now, I have gone to different jewellery showrooms like PC
Jewellers, PP Jewellers,
Kalyan Jewellers, Malabar Gold.
I went to them and tried to show them my sample.
They said,
Mr. Gupta, the sample is fine.
We are not buying it from you.
We doubt that someone can buy such an expensive jewellery.
But, we are not denying it.
Because, there are big industrialists who buy it. But, we
doubt whether they will buy it or not.
So, what should we do?
We cannot directly purchase it from you.
You will give us a jewellery worth 1 crore rupees.
Suppose, I have invested 1 crore rupees in it.
What if it does not sell further? What will I do?
Will my 1 crore rupees get blocked?
So, I gave them a suggestion as a manufacturer.
I gave them a suggestion to do one thing.
You put it in your shop as a showpiece.
When it sells,
I am not telling you to purchase it from me right now.
I am telling you to put it in your shop.
I do not need any money right now.
When it sells, you give me the money.
And, if it does not sell, return it to me.
After 6 months, after a year, keep it for a year.
If it does not sell for a year, return it to me.
If it sells in a year, give me your purchase cost.
This is right.
Manufacturers think that it might sell.
And, jewellers think that they do not have to give me money
right now.
Now, I will keep it as a showpiece.
I will display it on display items.
I will display it when it sells.
When it sells,
I will give money to my supplier.
So, this is the fourth category of goods sent or taken on
approval for sale or return basis.
When does the bill get deducted?
When does the manufacturer deduct the bill?
Sir, the bill will be deducted before or at the time of
supply.
Or 6 months from the date of removal, whichever is earlier.
When it actually sells, when the jeweller will sell it,
either then or when I supply the jeweller or remove the
jeweller, 6 months from the date of removal, whichever is
earlier.
This was section 31.
Section 31 tells us when you have to deduct your invoice.
It is a simple thing.
If there is a movement of goods, then it is fine, at the
time of removal or before. If there is no movement and
normal delivery is being done, then at the time of
delivery, making available to the receiver.
If there is a continuous supply of goods, then it is fine,
whenever payment is being made or whenever successive
statements are made on the basis of approval, then it is
fine.
Now let us come to the main topic, section 12.
What does section 12 say?
There are many categories in section 12.
Mainly, there are 3 categories.
Basically, there are goods in normal forward charge.
Forward charge means,
I will tell you in a while, forward charge and reverse
charge.
Forward charge means that the goods you have sold, you have
put GST and invoice on it and you have sold the goods.
You have sold your goods, with whom are you collecting tax?
You are collecting tax from the customer.
After collecting tax from the customer, you are going to
the government and collecting tax.
You are taking your credit.
You are also filing your monthly return.
Normal forward charge, which we understand in common
language.
But one is reverse charge.
Reverse charge means, the government has said that there
are some goods, there are some simple goods, on which the
liability, the liability of collecting tax, the liability
of collecting return, this liability will be of the
purchaser.
The one who will buy the goods from you, this will be his
liability.
The one who is selling the goods, this will not be his
liability.
There are many such things.
There is a separate topic, suppose that there is a reverse
charge. The charge should be, on a reverse basis.
The one who is buying the goods from you, he will collect
tax from the government. He will file the return.
So, there is a reverse thing going on here.
This is called reverse charge.
What is it exactly?
There will be a separate topic,
I will tell you there.
Now suppose, what is reverse charge?
The one who is buying the goods from you, he will collect
tax from the government. For example, you go to a shop and
buy a shirt.
Because you are thinking,
I am still paying the tax.
I am still a buyer.
I am still purchasing.
I am still paying the tax.
So, in reverse charge, you are saying, I will collect the
tax.
So, you don't understand anything.
Friends, let's take an example.
You buy a shirt.
If you buy a shirt, it is worth Rs.
Suppose, it has a GST of Rs. 200.
So, you pay Rs.
1200 to your seller.
That seller will go and collect the tax of Rs.
But the case of reverse charge is that the Rs.
200 portion,
I will go to the government myself.
I will deposit it there.
This is the difference between reverse charge and forward
charge.
The buyer deposits the tax.
He pays the tax.
So, a responsibility is cast on him.
So, this is in reverse charge.
Right now, we are reading that you sell something which is
covered in forward charge.
For example,
I am selling a laptop.
I am selling a fan.
I am selling a TV.
I am selling anything.
I am selling clothes. I am selling shoes. I am selling
spectacles, I am selling anything, things of forward
charge, so what will be the time of supply on that?
Ultimately, we have come to the same topic, on time of
supply, that in that case, what will be the time of supply,
friend?
What will be, friend? When will it be accepted that I have
supplied?
On which date will it be accepted that I have supplied the
goods?
On which date will it be accepted that there has been a
sale of goods?
The date on which we have accepted, the date on which we
have calculated that our supply is of this date, then we
will have to file our return corresponding to that date.
On the corresponding month of that date, I will show my
sales, that my sales are of this month,
I have collected so much output tax from the customer on
this sales,
I had paid so much tax during the time of purchase, minus
that from this.
Come, let's see what it says, that when will your supply be
accepted?
When will your supply be accepted? Let's see.
First is the date of issue of invoice, or the last date
till when your invoice should have been issued.
For example, you sold anything and today is 1st January.
Assume that today is 1st January, so on 1st January, you
either issued the invoice, or you sold the goods, so on 1st
January, you issued the invoice.
So, assume that today is 1st January, the date of issue of
the invoice is 1st January.
Or the second one is, the last date till when you should
have issued the invoice, which we had to do in every
section.
In that, it says, before at the time of removal of the
goods.
So, the maximum last date will be, till when you would not
have removed the goods.
Either that date will be there, or the actual date when you
removed the invoice.
Second, date on which payment is recorded in the books of
the supplier.
Currently, at this time, this point is not valid.
So, I will remove it.
A notification came, through that notification, this point
was removed.
This whole point.
So, now only this one point is valid in this.
Date of issue of the invoice.
On which date the invoice is being issued.
Issue of invoice is of which date?
You said, 1st January.
Or you will see, the last date.
Which was the last date, till when I should have issued the
invoice.
Assume, this comes on 3rd January.
So, in this, you have to see, whichever is earlier.
Which is the first one? 1st January.
So, what will we believe on 1st January?
Assume, 1st January is your time of supply.
Look at it carefully.
If you don't understand, I will explain it again.
These two points, which are not relevant now.
These were removed by the notification of the government.
These two points were removed by the notification of the
government.
I want to say this.
You try to understand.
The point is, if you sell any goods in forward charge.
So, you should know, on which date.
According to GST, what will be believed?
On which date, you have supplied?
You will simply say, a person came to my shop.
And I supplied that thing to him.
So, the supply should be of this date.
But, what does it say?
It is not like that.
We will tell you, when to assume the supply.
There are some parameters.
According to that, we will tell you.
There are some parameters.
According to that, we will tell you, when to assume the
supply.
So, according to them, when will you assume the supply?
The date on which you deducted your bill.
Or, take that date.
The date on which you deducted your bill.
Otherwise, what is the 2nd date?
Which is the last date?
According to the section 31, which is the last date on
which the bill should have been deducted?
Whichever is earlier.
That is the date when we will assume your supply according
to GST.
We are not assuming it according to you.
We are assuming it according to GST.
That, this date will be assumed as your supply.
So, this date.
If the month of April is going on.
So, we will say, your date is 15th April.
When you supplied this thing.
So, when you will pay the return of April in May.
In that, put the detail of your sale.
In that, calculate the liability of your monthly GST in
that month.
Suppose, this date comes out as October.
Suppose, this date comes out as September.
Suppose, this date comes out as July.
Brother, the month on which this date comes out.
The corresponding return of that month.
In that, you will check.
In that, you will show your output tax liability.
In that, you will put the detail of your sale purchase.
This is the point.
Because of this, we require the time of supply.
We don't have to see the payment in this.
Come, next.
Look at this.
Yes.
For example, if a child has a doubt.
Sir, for example, I am selling a laptop.
I am selling a laptop.
Or for example, take the example of Saria.
That Saria asked me the price on the phone.
What was the price?
I said Rs. 2,00,000.
He said, it is like this.
Rs. 2,00,000 is the price.
Very good.
I will give you Rs. 50,000 as advance as an RTGS.
I will give you Rs. 50,000 as an RTGS.
Rs. 1,50,000.
I will give you Rs. 1,50,000 later.
I will give you Rs. 50,000 after a month.
Rs. 50,000 as an advance.
Take the advance.
Consider this as the second example.
That person said, it is like this, it is the month of April.
And in the month of July,
I will have the requirement of some Saris.
So, you do one thing.
There is a shortfall in the number of Saris.
There is less supply in the market.
I am afraid that the price may not increase.
By July, the price may not increase.
So, let's do one thing.
In the month of April,
I will give you Rs. 50,000 today.
Cash.
And you book this Saris for me.
In the month of July, when I come to take this Saris from
you,
I will give you Rs. 1,50,000 as balance.
When will there be supply?
Supply is being done in the month of July.
Supply will take place in the actual sale of goods.
That will take place in the month of July.
But the advance,
I have received the advance today.
I have received the advance in the month of April.
The actual sale of goods will take place in July.
So, do I have to see the advance that I have received?
No, you don't have to see it.
You don't have to see it at all.
If you are selling goods in a forward charge, your goods
are charged in a forward charge.
In that case, whether it is advance or later payment, you
don't have to see it.
You don't have to see it.
You just have to check out that which date did I raise my
bill?
And what is the last date?
Whichever is earlier, that will be your time of supply.
It will be accepted.
Take an example of this.
This will make it clear.
He is saying that there is a machine and that has to be
supplied
at site.
It is done by sourcing various components from vendors and
assembling the machine at the site.
Assembling is done at the site.
Movement of goods etc.
or making available to the customer.
What is it? Think about it and tell me.
Look at the detail of it.
On 17th September, he received a purchase order with an
advance.
He received an advance of Rs. 50,000.
Rs. 50,000 is received for the machine worth Rs.
And entry duly made in the seller's books.
On 20th October, he assembled the machine and the customer
accepted it.
On 23rd October, he raised the invoice.
And on 4th November, the balance payment was received.
In this case, 20th October is the date when I should have
issued my invoice.
20th October is the date.
What is the last date?
Last date is 20th October.
But in actual, the invoice is being issued on 23rd October.
So, compare both.
Whichever is earlier is 20th October.
So, what is the time of supply? 20th October.
Do we have to do anything in advance?
Sir, I am selling goods in forward charge.
In that case, we don't talk about payment.
So, come here.
Look at the example.
20th October is the date.
Look at the example.