So, legal services were provided on 1st January, at the
same date invoice was issued.
The lawyer issued the invoice.
The company to which the services were provided, issued a
cheque on 10th January.
It is obvious that when you issue a cheque, when the
company issues a cheque, the accountant will pass the entry
in his book on 10th January that we have made the payment.
We have made the payment to the lawyer.
Here, the company recorded the transaction in its own book.
Actually, on 15th January, the lawyer put the money in his
bank.
The money was debited from the company's book.
So, if someone asks you what is the time of supply, what
will you say?
What will you say?
Date on which payment is recorded in the books?
Which date? 10th January?
Or date on which payment is debited from the bank account?
15th January?
Or 61st day from the date of issuance of invoice?
If you issue an invoice on 1st January, then, if you issue
an invoice on 61st day, then, on 31st January, and on 28th
February, 59th January, and on 2nd March, you will get your
invoice.
So, on 3rd March, you will get your invoice.
So, you can compare these three dates.
Whichever is earlier, will be considered as the date when
you book your time of supply.
Compare these three dates.
Whichever is earlier, will be considered as the date when
you book your time of supply.
61st day from the date of issuance of invoice, or when your
payment has been debited from the bank account, or you have
put an entry in your books, whichever is earlier, you will
get your payment.
This is the point.
Then, if it is not possible, if it is not possible for you
to issue time of supply, then how will you issue?
So, the date of entry of service, in the book of the
receiver, in the books of the receiver, whenever the entry
of service is shown, that will be considered as the date of
your time of supply.
If you are taking services from any associated enterprises,
Associated Enterprises, in International Taxation, in
International Taxation,
Associated Enterprises are mentioned, that Associated
Enterprises are basically my own branch, which is in a
foreign country.
My own company, which is in a foreign country,
I am taking some services from there.
So, in that case, what will be the time of supply?
In that case, either the date of payment of the service, or
date of receipt of service in the books of receiver.
When is the date of receipt of service shown?
In the books of the receiver, or the date of payment,
whichever is earlier, that will be your time of supply.
This was the provision of reverse charge.
Then vouchers, vouchers are the same.
Sometimes you get vouchers for some services.
Like Urban Clap,
Urban Clap started issuing vouchers yesterday.
This is the voucher of Salon.
While issuing the voucher, they are telling you, what is
the voucher for?
You can use the services of Salon up to Rs.
500 or up to Rs.
In that case, the supply, what type of supply will be done?
Salon services.
Do you know at that time, which services I will use?
In the voucher, specifically, it is written, which services
you will use?
Salon services.
In that case, what you have to do?
If you want time of supply, then see, time of supply
vouchers, which are exchangeable for services, that is
stipulated as date of issue of the voucher.
If the supply is identifiable at that point, you are able
to identify the supply, that I want services of Salon.
Salon services have vouchers.
So, date of issue of the voucher, your time of supply, your
time of supply will come here.
Otherwise, date of redemption, if you are given a normal
voucher, a comprehensive voucher, that this is a voucher
worth Rs.
Urban Clip gives you a voucher worth Rs.
1000, they will not specify which service you want to take.
You can take any service, but up to Rs.
So, in that case, what will be the time of supply?
Date of redemption.
Because I do not know, when the voucher is being issued, at
that time, I do not know which service is the voucher.
So, this will happen.
Come here.
Residual case.
The situation is not being covered anywhere.
Neither in forward charge, nor in reverse charge.
It is not being covered anywhere.
So, see what it is.
How will you get the time of supply in that case?
You will not give up.
In that case also, they will take your time of supply and
leave you.
See, what does the law do?
The law takes all the cases.
If it is not there, then it will come here.
And if it is not coming here, then it will come here.
And if it is not coming here, then they will not leave you
even then.
They will definitely cover you somewhere.
Sir, this is the attitude we need in life.
If one door closes, then some other small window will be
open.
There will be some other way.
They will not leave you like this in life.
If God closes one door, then assumingly,
He opens four more doors.
Do not be disappointed.
If that door is closed, then it is closed for your good.
God can see some such things, can hear some such things,
which you can neither see nor hear.
Who knows what is behind that door?
Your good is hidden or your ruin is hidden.
If a door is closed for you, then it is for your good.
That is why, come to the residual case.
What happens?
This is the last door, the second last door.
If the situation is not being covered anywhere, then it
will be covered in the residual case.
In that case, what is the time of supply you have to take?
If you are filing the return of GST, if you are filing the
periodical return of GST, then the date on which the
periodical return is required to be filed.
Otherwise, the date on which GST is paid.
This is the last one.
Is there any service for late fees?
If you recover late fees, then in that case, if you are
recovering late fees, then in that case, what are you doing?
That is also a service.
Late fees is also a service for me.
This same point came in the case of goods.
Here, what is late fees?
I am tolerating that person's act.
I am tolerating.
That person is paying me late.
He is paying late.
So, I am investing interest.
Like there was a payment of 100 crores in Vimal's ad.
Assume that payment comes late.
And brother Akshay used to say that 2% interest will be
required.
After a month, the payment came.
So, Rs. 102 crores came.
Rs. 100 crores is my supply of service.
The advertisement service.
Now, the Rs.
2 crores that I have, what are these Rs.
2 crores basically?
I am tolerating that person's act.
I am tolerating payment of late fees.
I am tolerating this thing.
I am providing services for that thing.
We read this in Schedule 2.
I am tolerating this.
This is the service of this thing.
And if this is the service of this thing, then what is the
consideration of this thing?
Consideration. Rs. 2 crores.
So, in that case, what will happen?
Time of supply will be mine.
Time of supply will be the date on which you get that
interest or that late fees.
This is the point.
It is a simple point.
Come and see.
This was the last point.
With this, we will cover this topic.
We read Section 12 in this.
And we read Section 13 in this.
Section 12 and Section 13.
Section 12 was about goods.
Section 13 was about time of supply of services.
There is nothing.
If you see, whatever effort you put in, either in the
forward charge case or in the reverse charge case, in the
case of goods and in the case of services.
The vouchers and the interest are exactly the same.
The residual points are all the same.
The goods are the same.
The services are the same.
The difference is the forward charge and the reverse charge.
Only these two things are different.
The rest are the same.
When I used to read this myself, it took me hardly 4-5
minutes to revise the whole chapter.
It didn't take me much time.
The rest of the things were the same.
I used to read only two things.
It was a chapter on time of supply.
We covered this here.
I hope the point is clear to you.
If you still have any doubts, you can watch the lecture
again.
You can watch the lecture again.
If you still have any doubts, if you still have any doubts,
if you still have any doubts, you can WhatsApp me.
Thank you very much.