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Last date for issuing tax invoice for a supply of services is:
AAt the time of receiving advance
BWithin 60 days
CWithin 30 days from the date of supply of service (45 days for banks/NBFCs/insurers)
DOn the date the service contract is signed
Answer & Solution
Correct answer: C. Within 30 days from the date of supply of service (45 days for banks/NBFCs/insurers)
1. Sec 31(2) requires a registered person supplying taxable services to issue a tax invoice within 30 days from the date of supply of service.
2. For banks, financial institutions, insurance companies and NBFCs, the limit is extended to 45 days.
3. Issuing the invoice later shifts the time-of-supply rule to Sec 13(2)(b).
_Source: ICAI BoS CA Final Paper 8, Ch 4 "Time of Supply", §Sec 31(2)_
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