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CS Executive · Tax Laws and Practice · Time, Value and Place of Supply

Under section 12, when the time of supply of goods cannot be determined under the other provisions and a periodical return has to be filed, the time of supply is:

The time of supply is the date on which the periodical return is to be filed. This residual rule in section 12(5) applies only when time cannot be determined under the invoice, payment, reverse charge or voucher provisions; tax payment date applies in other cases.

  1. Athe date on which the tax is paid
  2. Bthe date on which such return is to be filedCorrect
  3. Cthe date of receipt of goods by the recipient
  4. Dthe date of entry in the recipient's books

Explanation

Section 12(5) is the residual rule: if time cannot be fixed under sub-sections (2), (3) or (4), then where a periodical return has to be filed it is the due date of that return. The date of tax payment applies only in other cases where no periodical return is required.

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