Continuous Supply of Goods And Services Under GST

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  • Last Updated on 23 December, 2020

Continuous Supply of Goods Under GST:

“Continuous supply of goods” means a supply of goods which is provided, or agreed to be provided, continuously or on recurrent basis, under a contract, whether or not by means of a wire, cable, pipeline or other conduit, and for which the supplier invoices the recipient on a regular or periodic basis and includes supplies notified as being a continuous supply of goods.

Continuous Supply of Services Under GST:

“Continuous supply of services” means a supply of services which is provided, or agreed to be provided, continuously or on recurrent basis, under a contract, for a period exceeding three months with periodic payment obligations and includes a supply notified as being a continuous supply of services. In case of continuous supply of goods, the invoice has to be issued before or at the time of each of the successive statements is issued or each of the successive payments are received. Similarly, in case of a continuous supply of services the invoice has to be issued. • Where the due date of payment is ascertainable from the contract, the invoice must be issued on or before the due date of payment; • Where the due date of payment is not ascertainable from the contract, the invoice must be issued before or at the time when supplier of service receives payment;   • Where the payment is linked to the completion of an event, the invoice should be issued on or before the date of completion of that event.

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