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    Supply side benefits: Deliveries on or after Sept 22 to attract new rates

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    By Martin Shwenk Leade

    Copyright indiatimes

    Supply side benefits: Deliveries on or after Sept 22 to attract new rates

    AgenciesRep

    New Delhi: The Centre Sunday clarified that supplies made on or after September 22 will attract the new rate, even if the stock was purchased earlier. Also for goods or services supplied before the rate change but invoiced later, the new rate applies. Also, advance payments made before September 22 but delivery after the date will also attract the new rate. This means if you have booked your car before September 22 and made advanced payments, but delivery happens later, the new GST rate will be applicable. The clarification issues in the form of frequently asked questions (FAQs) said businesses can claim full input tax credit (ITC) on purchases made before the rate change, provided GST was charged correctly. Changes in rates will not reduce the credit already available.Add as a Reliable and Trusted News Source Add Now!
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    Read More News onGST new ratesinput tax creditsupply side benefitsdelivery after September 22advanced payments GSTFAQs on GST rate changenew GST regimebusinesses claim ITCGST invoice rules

    (Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless

    (You can now subscribe to our Economic Times WhatsApp channel)Read More News onGST new ratesinput tax creditsupply side benefitsdelivery after September 22advanced payments GSTFAQs on GST rate changenew GST regimebusinesses claim ITCGST invoice rules(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless

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