we have provided some services in March 19, for which neither invoice has been issued nor any amount has been received from recipient of services.
so, we have shown the same as unbilled revenue in 31.03.2019 in books.
please advice how to show the GST applicable on it in books as on 31.03.2019.
and whether we have to deposit Gst over it on the basis of unbilled rev. or at the time of raising invoice.
Hi Anil,
Sec13 of CGST Act 2017 defined Time of Supply, in your case, as you said, Provisioning of services are already done, now you need to issue tax invoice within 30days of such provisioning & you have to pay tax on the basis of Tax Invoice or Receipt of Payment whichever is earlier, if tax invoice not issued within 30days then you have to lay tax on the basis of Date of Provisioning of Service
Thanks!!
CAclubindia
