Tiêu đề Chapter 11 - Tax Invoice, Debit and Credit Notes, E-Way Bill - Notes.pdf ✅

CA NISHANT KUMAR 1 Chapter 11 – Tax Invoice, Credit & Credit Notes, E-Way Bill – Summary Who Can Raise a Tax Invoice? 1. Registered person supplying taxable goods or services 2. Registered person receiving taxable goods or services from unregistered suppliers Time Limit for Issuance of Invoice • In case of continuous supply of goods: before/at the time each successive statement of accounts is issued or each successive payment is received • In case of continuous supply of services: o due date of payment is ascertainable from the contract: on/before due date of payment o due date of payment is not so ascertainable: before/at the time of receipt of payment o payment is linked to the completion of an event: on/before the date of completion of that event Question 1 Snowwhite Industries Ltd., Delhi, entered into a contract with Glowwhite Entrepreneurs, Delhi, for supply of parts of a machine on 10th September, 2022. The spare parts were to be delivered on 30th September, 2022. Snowwhite Industries Ltd. removed the finished spare parts from its factory on 29th September, 2022. Determine the date by which invoice must be issued by Snowwhite Industries Ltd. under GST law. Solution Taxable Supply Goods Involving Movement of Goods At the time of removal No Movement of Goods At the time of delivery Sale or Return Supplies Before or at the time of supply, or within 6 months from the removal – whichever is earlier Services Within 30 days from the supply of services Insurance, Banking - 45 Days