Where the goods being sent or taken on approval for sale or return are removed before the supply takes place, the invoice shall be issued

Related MCQs

• In case of goods sent on sale on approval basis, invoice has to be issued
• ABC Ltd. of Mumbai supplied goods to XYZ Ltd. of Delhi under a contract for the goods to be delivered at the factory of the buyers. Goods removed from the factory of ABC Ltd. on 9-8-2019 and were delivered in the factory of XYZ Ltd. of Delhi on 16-8-2019. Invoice for the suppliers was raised by ABC Ltd. on 18-8-2019. Payment of the bill was received on 20-9-2019. The time of supply in this case under GST be taken as
• Section 2(6) of the CGST / SGST Act, 2017 defines aggregate turnover which is being computed on all India basis excluding the taxes charged under CGST Act, SGST Act, UTGST Act and IGST Act. Aggregate turnover shall include all supplies made by a taxable person comprising of (i) Taxable supply (ii) Exempt supply (iii) Export of goods and services (iv)All inter-state supply of person having same PAN (v) Supply on which tax is levied on reverse charge basis (vi)Value of all inward supply
• Which of the following transaction is inter-state supply of goods involving movement of goods? (1) Location of supplier is in Bangalore and location of recipient is in Mumbai and goods are shipped to Kolkata (2) Location of supplier is in Bangalore and place of supply is Mumbai (3) Location of supplier and place of supply is Bangalore (4) None of the above
• Determine the value of taxable supply as per Section 15 of the CGST Act; 2017 : Contracted sale price of goods (including CGST and SGST @5%) 10,56,000 The contracted sale price includes the following elements of cost: (i) Cost of drawings and design 5,000 (ii) Cost of primary packing 2,000 (iii) Cost of packing at buyer’s request 4,000 (iv)Fright and insurance from ‘place of removal’ to buyer’s premises 43,000 A discount of 6,000 was given by the supplier at the time of supply of goods. CGST and SGST is levied @ 5%.
• The time of supply "where goods or services or both have been supplied in a situation where the invoice issued before the change in the rate of tax but payment received after the change in rate of tax" as per section 14 of the CGST Act, 2017 shall be
• Where the supplier of taxable goods receives an amount upto in excess of the amount indicated in the tax invoice, the time of supply to the extent of such excess amount shall, at the option of the said supplier, be the date of issue of invoice in respect of such excess amount.
• Determine the Time of supply in case goods are supplied on approval basis Removal of goods : 01-12-2019 Issue of Invoice : 15-12-2019 Accepted by recipient : 05-12-2019 Receipt of payment : 25-12-2019
• Exempt supply means supply of any goods or services or both which may be wholly exempt from tax under section 11 or under section 6 of the IGST Act and includes (i) non-taxable supply (ii) zero rated supply (iii) supply having nil rate of tax (iv) composite supply
• Determine the Time of supply in accordance with provisions of Section 12 of the CGST Act, 2017 in case supply involves movement of goods. Date of Removal of goods : 03-10-2019 Date of Invoice : 01-10-2019 Date goods made available to recipient : 04-10-2019 Date of receipt of payment : 25-11-2019