GST: Time, Place and Value of Supply
15 minThis topic covers the three foundational pillars of GST supply: when a supply is deemed to occur (Time of Supply), where it is deemed to occur (Place of Supply), and how much it is worth (Value of Supply). It explains th…
- Time of supply is the point at which a transaction is treated as having occurred for GST purposes.
- It determines when tax liability arises, when tax is due, and when ITC can be claimed.
- For goods, time of supply is the earliest of delivery, invoice date, and payment date.
Full explanation, worked examples & memory tricks in the app