CA Final Time of Supply — practice questions
29 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice CA Final Time of Supply in the app →Continuous supply of goods per Sec 2(32) requires:X Ltd received an advance of Rs 50,000 on 1 March 2024 against a future supply of goods worth Rs 5 lakh. GoodsLast date for issuing tax invoice for a supply of services is:When an invoice is issued for goods supplied where the SUPPLIER receives a small EXCESS amount up to Rs 1,000 Mr. Y provides architectural services completed on 5 January 2024. He issues invoice on 10 February 2024 (i.e.An e-commerce operator (ECO) under Sec 9(5) is the deemed supplier for notified services. Time of supply for tSupply of goods on approval basis: the time of supply is the earlier of:Last date for issuing tax invoice for a supply of goods involving movement is:Vouchers redeemable for ANY product at a specific online marketplace at the customer's choice. Time of supply Where a continuous supply of services is linked to completion of an event, the invoice shall be issued:Rule 47 of CGST Rules prescribes the time limit for issuing a tax invoice by an insurer/banker/NBFC for taxablMr. A receives goods on 10 May 2024. The invoice was issued by the supplier on 1 May 2024 and Mr. A pays on 25Section 14: supply is provided AFTER the change in tax rate. Invoice issued BEFORE the change; payment receiveFor continuous supply of services where the due date of payment IS ascertainable from the contract, the invoicTime of supply where tax is paid or liable to be paid under section 9(5) by an electronic commerce operator isTime of supply of services under Sec 13(2) (forward charge), if invoice is issued WITHIN the period prescribedA continuous supply of services where the contract provides for a quarterly payment due on the 10th of the monMr. P, an event manager, completes a wedding event on 20 February 2024. He issues invoice on 28 February 2024.Time of supply of goods under Sec 12(2) (forward charge) is the earliest of:GTA service: tax is payable by recipient under RCM (notified). GTA issues consignment note on 5 March; recipieUnder Sec 12(3) for goods supplied under reverse charge, time of supply is the earliest of:Time of supply of a voucher under Sec 12(4)/13(4): if the supply is identifiable at the time of issue:For services, an advance is received before the service is provided. Tax liability arises:Section 14 governs change in rate of tax. If supply is COMPLETED before the change but invoice and payment areIf an invoice for a continuous supply of services where due date IS NOT ascertainable from the contract is to Under Sec 13(3) for services under reverse charge, time of supply is the earlier of:Time of supply for an addition in value of supply by way of interest, late fee or penalty for delayed payment For continuous supply of goods, the tax invoice is to be issued:Mr. K sells goods to Mr. L on 1 Aug 2024 (forward charge). He issues invoice on 1 Aug, despatches the goods on