Goods and Services Tax

GST on Uncertain Revenue

Goods and Services Tax – Started By: – CAPurnima Bothra – Dated:- 9-7-2018 Last Replied Date:- 10-7-2018 – Case Study:Lessor has raised demand note asking lease rental for the whole year.However lessee has moved to court and is not ready to pay any dues.Now in this scenario Lessor is paying GST out of his pocket as no amount is recoverable from the lessee which leading to huge cash blockage at this moment.Can GST amount be escaped/defered on uncertain revenue and be paid once the revenue becomes certain. – Reply By KASTURI SETHI – The Reply = You can decide according to the definition of 'Time of supply' as per details given below:-13. Time of supply of services. – (1) The liability to pay tax on services shall arise at t

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vided that where the supplier of taxable service receives an amount up to one thousand rupees in excess of the amount indicated in the tax invoice, the time of supply to the extent of such excess amount shall, at the option of the said supplier, be the date of issue of invoice relating to such excess amount. If you have issued invoice, liability arises in the following month. If no invoice is issued, then the time of supply is the date of receipt of payment. – Reply By Alkesh Jani – The Reply = Sir/Madam,Please consult your Advocate seeking the interim order from the court to get gst amount from the party, till the final order. Also check Section 92 is applicable or not.Our experts may correct me if mistakenThanks – Reply By DR.MARIAPPAN GO

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