May 13, 2024
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Suppose, part advance payment is made or invoice issued is for part payment, whether the time of supply will cover the full supply ?
No. The supply of services shall be deemed to have been made to the extent it is covered by the invoice or the part payment. However, for goods payment of tax will need to be made upon date of issue of invoice, irrespective of the fact whether or not advance or part payment is received.
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time-of-supplygoodspaymentsupply-of-servicesinvoiceadvance