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SECTION 13 OF THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 – SUPPLY – TIME OF SUPPLY OF SERVICES

August 17, 2024

Where amount collected by assessee from its members for setting up a sinking fund is an advance payment towards future supply of services and such payment comes under definition of „consideration? under section 2(31) and such contribution cannot qualify as a deposit and assessee is, therefore, liable to pay tax on such supply in terms of sub-section (2) of section 13 – Prinsep Association of Apartment Owners, In re – [2024] 165 taxmann.com 387 (AAR-WEST BENGAL)

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