Time of Supply of Goods Under GST Explained
Goods and Services Tax (GST) is an indirect tax that makes India’s tax system easier. Time of Supply which is a very crucial part of GST. This concept defines the moment at which output is considered to be supplied. Once it’s determined, it becomes the tax liability. Understanding the Time of Supply in GST helps businesses comply with the rules effectively.
What is the Time of Supply in GST?
The Time of Supply in GST refers to the date when a taxable event occurs under GST. It plays a key role in determining:
The time of supply for goods and services is determined under Section 12, 13 & 14 of CGST Act, 2017 as per GST law.