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CMA Intermediate · Direct and Indirect Taxation · Time and Value of Supply

Under Section 12 of the CGST Act, 2017, for goods supplied under reverse charge, the time of supply is the earliest of the date of receipt of goods, the date of payment by the recipient, or the date immediately following a stated number of days from the date of the supplier's invoice. What is that number of days?

The period is 30 days. For reverse charge supplies of goods, the time of supply is the earliest of receipt of goods, payment date, or the date immediately following thirty days from the supplier's invoice date. Sixty days applies only to services.

  1. A15 days
  2. B30 daysCorrect
  3. C45 days
  4. D60 days

Explanation

Section 12(3)(c) refers to the date immediately following thirty days from the date of issue of invoice (or equivalent document) by the supplier. The sixty-day period is found in Section 13(3)(b), which applies to services, so it is the key distractor.

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