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CS Professional · Goods and Services Tax (GST) and Corporate Tax Planning · Time of Supply

Under the CGST Act, 2017, in the case of supply of vouchers by a supplier, the time of supply is the date of issue of the voucher if the supply is identifiable at that point. When is the time of supply in all other cases?

The time of supply is the date of redemption of the voucher. If the supply is identifiable when the voucher is issued, the date of issue applies; in every other case the supply is taxed only when the voucher is redeemed.

  1. AThe date of redemption of the voucherCorrect
  2. BThe date on which the voucher is sold to the first customer's bank
  3. CThe date on which the supplier files the periodical return
  4. DThe date following thirty days from the date of issue of the voucher

Explanation

Sections 12(4) and 13(4) provide that the time of supply of a voucher is the date of issue if the supply is identifiable at that point, and otherwise the date of redemption. The thirty-day rule applies to reverse charge supplies of goods, not to vouchers.

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