Corporate Training Fees

GST – Time of Supply

Introduction

GST – Time of Supply: Point In time When the liability to pay tax arises

Who shall pay: Taxable Person

• On what GST shall be paid: Supply of Goods and services – Section 7

• When GST shall be paid: Point of Supp.ly

• Where shall GST be paid: Place of Supply

• To whom shall it be paid: Respective Government

• How to Pay: Cash / Credit

Time of Supply of Goods

Generally Earlier of
Date of issue of invoice or last date on which the invoice was required to be issued
Date of receipt of payment

In case of Reverse Charge

Earlier of
Date of receipt of goods
Date of payment
From the date of issue of the invoice Date immediately following 30 days.

Time of Supply

In case of Supply of vouchers
Date of issue of the voucher, if the supply is identifiable at that point
Date of redemption of the voucher, in all other cases

In case of receipt of additional value of supply in the form of
Residual
In the case where a periodical return has to be filed, the date on which such return is to be filed

In any other case,

the date on which CGST/SGST is paid

Time of Supply of Goods – Last date for issue of invoice

Last date of issue of invoice

Concerning the removal
Goods removed Date of removal
Goods are not removed Date on which goods are made available

The continuous supply of Services
statements of accounts or successive payments
Goods sent on approval
before or at the time of supply
Six months from the date of removal

Continuous Supply of Goods

Section 2(32) defines “continuous supply of goods” means a supply of goods which is provided, or agreed to be provided, continuously or on recurrent basis, under a contract, whether or not by means of a wire, cable, pipeline or other conduit, and for which the supplier invoices the recipient on a regular or periodic basis and includes supply of such goods as the Government may, subject to such conditions, as it may, by notification, specify

Continuous Supply of Goods
Notification No. 40/2017 – Central Tax dt. Oct 13, 2017
registered person whose aggregate turnover in the preceding financial year did not exceed one crore and 5000000 rupees or the registered person whose aggregate turnover in the year in which such person has obtained registration is likely to be less than 15000000 rupees and who did not opt for the composition levy under section 10 of the said Act as the class of persons who shall pay the central tax on the outward supply of goods at the time of supply as specified in clause (a) of sub-section (2) of section 12 of the said Act including in the situations attracting the provisions of section 14 of the said Act,

Time of supply of services

In case invoice issued within the prescribed time, earlier of

ï?·the date of issue of an invoice by the supplier or
ï?·the date of receipt of payment

a)In case of the invoice is not issued within the prescribed time, earlier of
ï?·the date of provision of service
ï?·the date of receipt of payment

A continuous supply of Services

When due date of payment is ascertainable, on or before the due date of payment;
a.else, date of receipt of payment;

Where the payment is linked to the completion of an event, date of the end of that event.
Time of Supply of Services

Time of Supply of Services
Supply ceases before completion time when the amount ceases

In case of Reverse charge

the date of payment
the date immediately following 60 days from the date of issue of invoice

Supply of vouchers
Date of issue of the coupon, if the amount is identifiable at that point
Time of redemption of the voucher, in all other cases

Residual
In the case where a periodical return has to be filed, the date on which such return is to be submitted
In any other case, the date on which CGST/SGST is paid

Continuous Supply of Services

Section 2(33) “continuous supply of services” means a supply of services which is provided, or agreed to be delivered, continuously or on recurrent basis, under a contract, for a period exceeding three months with periodic payment obligations and includes supply of such services as the Government may, subject to such conditions, as it may, by notification, specify;

Additional Consideration Section further provides that 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. Thus, any additional consideration for any supply of services shall be taxable at the time when such additional consideration is received.

Time of supply of services – rate change

Supply Issue of invoice Receipt of payment
Time of supply Before the change in the rate of tax
After the difference in the rate of tax
Date of receipt of payment, or date of issue of invoice, whichever is earlier Before the change in the rate of tax

Speaking fluently in English is a dream of every employed person today, we find many English speaking classes and they try their best to teach with slightly conventional syllabus or the typecast telephone manners. The wannabes join the classes and pay their hefty fees.

What you miss is the objective of joining coaching class, you want to speak fluently but how can you answer the unexpected questions in conversations? You cannot always dodge questions by saying, ‘ o yaah’ or ‘correct, you are right’. People make fund out of your conversation.

Being a mass communication professor I take task of speaking as method of communication. Your speaking has to be sharp, crisp and straight. You should be in position to handle any unexpected questions and difficult conditions at your stride.

Listening is a great tool in speaking English. As the saying goes, a great listener is a great speaker. It is true, once you listen you find your half answers in conversations and you find your lead for further question in conversations. The ability of listening helps at a greater extent in speaking.

While conversing with English we converse at various occasions. It may be a situation where you give presentation and it is your board room, we call it group communication. The dynamics of this conversation are once end communication. It seems to be easy but to win everybody and read their mind becomes a challenge.   When we deliver a speech, it is a part of mass communication and it is one end communication, there is no scope for feedback. It is one of the most cost and time saving type of communication. The interpersonal communication when we communicate with other person. It takes place between two people but it is more time and money consuming.

Every day when we meet many people as our clients, collogues, bosses, seniors and family members, they ask us our opinion on their choice or decision and we became the victim for blame as we offer our honest answer. Euphemism is a figure of speech in which you say what you want to say but you say it in a manner that the other person digests it at utmost ease.

Our communication creates our identity in society and influence masses. It is important what we wear and what we speak. The mind of observers goes much beyond our words. Your style speaking and choice of language style influence the masses.

When two people talk, they exchange the ideas, they impress and engage in convince with the ideas they discuss. It the most important part of life as we learn English and wish to impress someone or someone special. In the field of communication we call it Interpersonal Bridge,  it is also used in sales, marketing, board meetings and personal life.

The written emails, motivational letters, follow-up letters, goodwill letters, direct mail letters, seasonal greetings, reports or any forms of written communication creates lifelong impression of our personality. We need to be extra cautious while writing.

There is a leader in every individual; it is up to you how you develop your skills and how you pursue your  ambition. You may lack in one or two qualities. Always remember you can be a leader only when you rule the hearts of subordinates. It is your words what matters most. They may be spoken or written builds a step to your Leadership Ladder.