A firm get an order to supply of goods on 10th July supplies the goods on 15th July and received the cash on 19th July. So revenue will be deemed to be earned on which date and which principle is applied here? Explain it.
Answers
Answered by
113
Answer:
Point of taxation means the point in time when goods have been deemed to be supplied or services have been deemed to be provided. The point of taxation enables us to determine the rate of tax, value, and due dates for payment of taxes.
Under GST the point of taxation , ie., the liability to pay CGST / SGST, will arise at the time of supply as determined for goods and services. There are separate provisions for time of supply for goods and time of supply for services.
plzzz mark me as brainliest
Similar questions