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post dated cheque supplier on april

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post dated cheque supplier on april

Post by TSYEAN on Mon Jan 05, 2015 10:09 pm

i would like to know if open a post dated cheque to supplier on April, if the terms sales is on March? will affect GST?


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Re: post dated cheque supplier on april

Post by joseph on Mon Jan 05, 2015 11:34 pm

Under the Transitional Provisions (Part XIX) of the GST Act 2014, GST shall not be charged on any supply of goods or services made before the effective date.

So, if the goods (or services) are delivered (or made available) prior to 1 April 2015, then there will not be any GST effect on the sales transaction.

However, if invoice is issued or payment is made in advance prior to 1 April 2015 while the goods are delivered only on or after 1 April 2015, then GST is chargeable and the invoiced amount or the payment amount is deemed to be inclusive of GST.


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Re: post dated cheque supplier on april

Post by bubu1101 on Sun Mar 08, 2015 10:25 pm

Lets say on March 2015, we order 50,000 units of goods from supplier, but we only can receive partial (30,000 units) of goods on March 2015, and the rest of the 20,000units will only can be receive after April 2015, May I know:-

1. How to take in to account for the above transaction?
2. The Balance stocks received is it will be affected by GST charges??


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Re: post dated cheque supplier on april

Post by joseph on Mon Mar 09, 2015 10:37 pm

Supplier should issue you a normal invoice for the 30,000 units of goods received pre-GST, and issue you a Tax Invoice for the balance 20,000 units received post-GST.

GST is chargeable on the 20,000 units received post-GST.

This is an anti-avoidance provision, to prevent a business from escaping paying GST.

If you want to avoid paying GST, ensure you receive the goods pre-GST.


Any opinion expressed is strictly my personal view based on my understanding and interpretation of the GST Act 2014, Regulations, Orders, DG's Panel Decisions and Customs' Guides. You should seek advice from experts and/or the Customs Dept if the subject matter is significant to your business.


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Re: post dated cheque supplier on april

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