(1) The liability to pay tax on services shall arise at the time of supply, as
determined in accordance with the provisions of this section.
(2) The time of supply of services shall be the earliest of the following dates,
namely:-
the date of issue of invoice by the supplier, if the invoice is issued within
the period prescribed under sub-section (2) of section 31 or the date of receipt
of payment, whichever is earlier; or
the date of provision of service, if the invoice is not issued within the period
prescribed under sub-section (2) of section 31 or the date of receipt of
payment, whichever is earlier; or
the date on which the recipient shows the receipt of services in his books of
account, in a case where the provisions of clause (a) or clause (b) do not
apply:
Provided that where the supplier of taxable service 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 relating to such excess amount
Explanation.- For the purposes of clauses (a) and (b)-
(i) the supply shall be deemed to have been made to the extent it is covered by
the invoice or, as the case may be, the payment;
(ii) "the date of receipt of payment" shall be the date on which the payment is
entered in the books of account of the supplier or the date on which the payment
is credited to his bank account, whichever is earlier.
(3) In case of supplies in respect of which tax is paid or liable to be paid on
reverse charge basis, the time of supply shall be the earlier of the following
dates, namely:-
the date of payment as entered in the books of account of the recipient or the
date on which the payment is debited in his bank account, whichever is earlier;
or
the date immediately following sixty days from the date of issue of invoice or
any other document, by whatever name called, in lieu thereof by the supplier:
Provided that where it is not possible to determine the time of supply under
clause (a) or clause (b), the time of supply shall be the date of entry in the
books of account of the recipient of supply:
Provided further that in case of supply by associated enterprises, where the
supplier of service is located outside India, the time of supply shall be the
date of entry in the books of account of the recipient of supply or the date of
payment, whichever is earlier.
(4) In case of supply of vouchers by a supplier, the time of supply shall be-
the date of issue of voucher, if the supply is identifiable at that point; or
the date of redemption of voucher, in all other cases.
(5) Where it is not possible to determine the time of supply under the
provisions of sub-section (2) or sub-section (3) or sub-section (4), the time of
supply shall-
in a case where a periodical return has to be filed, be the date on which such
return is to be filed; or
in any other case, be the date on which the tax is paid.
(6) The time of supply to the extent it relates to an addition in the value of
supply by way of interest, late fee or penalty for delayed payment of any
consideration shall be the date on which the supplier receives such addition in
value.
Chapter I Preliminary
Section 1 : Short Title, Extent and Commencement
Chapter II Administration
Section 3 : Officers under this Act
Section 4 : Appointment of Officers
Section 5 : Powers of Officers
Chapter III Levy and Collection of Tax
Section 8 : Tax liability on composite and mixed supplies
Section 9 : Levy and Collection
Section 11 : Power to Grant Exemption from Tax
Chapter IV Time and Value of Supply
Section 12 : Time of supply of Goods
Section 13 : Time of supply of services
Section 14 : Change in tax in respect of supply of goods or services
Section 15 : Value of Taxable Supply
Chapter V Input Tax Credit
Section 16 : Eligibility and Conditions for taking input tax credit
Section 17 : Apportionment of credit and blocked credit
Section 18 : Availability of credit in special circumstances
Section 19 : Taking input tax credit in respect of inputs and capital goods sent for job work
Section 20 : Manner of distribution of credit by input service distributor
Section 21 : Manner of recovery of credit distributed in excess
Chapter VI Registration
Section 22 : Person liable for registration
Section 23 : Person not liable for registration
Section 24 : Compulsory Registration in certain cases
Section 25 : Procedure for Registration
Section 26 : Deemed Registration
Section 27 : Special provisions relating to casual taxable person and non-resident taxable person
Section 28 : Amendment of Registration
Section 29 : Cancellation of Registration
Section 30 : Revocation of Cancellation of Registration
Chapter VII Tax Invoice, Credit and Debit Notes
Section 32 : Prohibition of unauthorized collection of tax
Section 33 : Amount of tax to be indicated in invoice and other documents
Section 34: Credit and Debit Notes
Chapter VIII Accounts and Records
Section 35 : Accounts and Other Records
Section 36 : Period of Retention of Accounts
Chapter IX Returns
Section 37 : Furnishing Details of outwards supplies
Section 38 : Furnishing details of inwards supplies
Section 39 : Furnishing Returns
Section 41 : Claim of input tax credit and provisional acceptance thereof
Section 42 : Matching, reversal and reclaim of input tax credit
Section 43 : Matching, reversal and reclaim of reduction in output tax liability
Section 46 : Notice to return defaulters
Section 48 : Goods and Services Tax Practitioners
Chapter X Payment of Tax
Section 49 : Payment of Tax, Interest, Penalty and other Amounts
Section 50 : Interest on delayed payment of tax
Section 51 : Tax Deduction at Source
Section 52 : Collection of Tax at Source
Section 53 : Transfer of Input Tax Credit
3%, 5%, 18% GST items 26.7.2018
18% GST notification 10.11.2017
0%, 5%, 12% reduced on 10.11.17
IGST Rates reduced on 10.11.2017
3% & 0.25% GST Goods (Original)
18% GST Materials (Original List)
Compensation Cess Rates (Original)