Webspecify, by notification, the continuous supply of goods/continuous supply of services; Comments: 1. The event of supply is central to levy of GST. When supply of goods or services is not done, mere raising of invoice/payment being received being treated as time of supply may not be in keeping with intention to tax supply of goods and/or services. WebContinuous Supply of Goods. In a case of continuous supply of goods, where successive statements of accounts or successive payments are involved, the invoice shall be issued before or at the time each such statement is issued or, as the case may be, each such payment is received. Continuous Supply of Services. In a case of continuous supply …

Time, Place and Value of Supply for Goods & Services under GST …

WebThe word continuous supply itself reflects the meaning of the ongoing process. Providing goods or services and making periodic payments is considered a continuous supply. Suppose supplying... WebSupplying service on a continuous basis You are supplying a service on a continuous basis if the service: Stretches over a period of several months or years (e. g. … rajasthan essay in english

Continuous Supply of Goods & Services under GST

Web3.Stocktransfer between two plants without delivery (MM STO): Thisprocess is also called as MM STO, but many of the companies will use intra orinter process because of … WebApr 3, 2024 · Continuous supply of goods When there are successive statements of accounts issued and consecutive payments are involved, the supply is considered as a continuous supply. Here the invoices have to be issued before or at the time when each statement is issued or before each payment is received. WebJan 13, 2024 · As per section 2 (33) of the CGST Act, ‘Continuous supply of services’ means: -. A supply of services which is provided or agreed to be provided, … rajasthan ews certificate status