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CA Final · Indirect Tax Laws · Supply under GST

Rohan Retail Pvt Ltd sold gift vouchers on 10 March. Voucher A is a single-purpose voucher in which the goods to be supplied are identifiable at issue. Voucher B is a general voucher redeemable for any goods in the store, so the supply is not identifiable at issue. Rohan Retail received payment for both on 10 March. Voucher A was redeemed on 15 May and voucher B on 20 June. Under section 12(4) of the CGST Act, 2017, the time of supply for A and B respectively is:

The time of supply is 10 March for voucher A and 20 June for voucher B, because section 12(4) fixes the date of issue where the supply is identifiable and the date of redemption in all other cases.

  1. A10 March and 20 JuneCorrect
  2. B15 May and 20 June
  3. C10 March and 10 March
  4. D15 May and 10 March

Explanation

Under section 12(4), the time of supply of a voucher is the date of issue if the supply is identifiable at that point, otherwise the date of redemption. Voucher A is identifiable, so 10 March. Voucher B is not identifiable, so the redemption date of 20 June applies. Receipt of payment does not override the voucher rule.

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