Sir, what is the GST law for advance/ excess money received by a provider of service for a continuous nature of service ? .i.e. Is there any monetary limit for advance/excess for not issuing ARV for service providers ?
As per proviso to Sec 13(2) of the CGST Act, 2017 which determines time of supply(TOS) for services, excess amount received upto Rs 1000/- will not be taxed at option of the tax payer at the time of issue of invoice relating to such excess amount.
Under Time of supply provisions , there are no seperate provisioins for continuous supply of services. Though the prescribed time within which invoice can be issued (which has bearing on TOS) for CSS is dealt by Sec 31(5), whereas in case of normal services it is dealt with by Sec 31(2) of the CGST Act.
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