Page 25 - Chapter 6_Value of Supply

Ü Export of Goods (Section 2(5) & Section 16, IGST Act) – Export = Goods sent outside India. Supply to
Anchor Electricals Inc., USA under LUT qualifies as an export. Zero-rated supply (no IGST payable
under LUT).

Ü Supply of Repair & Maintenance Services (Intra-State, Delhi) – CGST 9% + SGST 9%.
Ü Advance Payment for Services (Section 13(2), CGST Act) – Time of Supply: Earlier of invoice date or
payment receipt date (if invoice is issued within 30 days). Orelec Ltd. (Delhi) received services & paid
advance in Jan. GST payable in January.

Ü Advance Payment for Goods (Section 12(2), CGST Act & N/No. 66/2017) – Time of Supply for Goods:
Earlier of invoice date or last date invoice must be issued. Novick Electricals (Gurgaon, Haryana) paid
advance in Jan, but invoice was issued in March. GST payable only in March, not in Jan. IGST @ 5%.

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