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CMA Final · Indirect Tax Laws and Practice · Time of Supply

Under section 12(4) of the CGST Act, 2017, how is the time of supply of goods determined where a voucher is supplied?

For vouchers, the time of supply is the date of issue if the supply is identifiable at that point, and in all other cases it is the date of redemption. It does not depend on the date of payment for the voucher.

  1. AAlways the date of redemption of the voucher
  2. BThe date of issue of the voucher if the supply is identifiable at that point, otherwise the date of redemptionCorrect
  3. CThe date of issue of the voucher in every case
  4. DThe date on which payment for the voucher is received, in every case

Explanation

Section 12(4) fixes the time of supply on the date of issue of the voucher where the supply is identifiable at that point. In all other cases, such as a general-purpose voucher, it is the date of redemption. Options stating a single date in all cases ignore this split.

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