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Section 14: supply is provided AFTER the change in tax rate. Invoice issued BEFORE the change; payment received AFTER. Time of supply is:
ADate of payment
BDate of invoice
CEarlier of the two
DDate of provision of service
Answer & Solution
Correct answer: A. Date of payment
1. Sec 14(b) applies when supply is provided AFTER the rate change.
2. Sub-clause (i): invoice issued before change, payment received after change → time of supply is the date of payment, new rate applies.
3. Sub-clause (ii): both invoice and payment before change → earlier of the two (old rate). Sub-clause (iii): payment received before, invoice issued after → date of invoice.
_Source: ICAI BoS CA Final Paper 8, Ch 4 "Time of Supply", §Sec 14(b)(i)_
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