Time limit for issuance of invoice w.r.t. goods sent/taken out of India on approval extended to 31 Oct, 2020

Section 31 (7) of CGST Act,2017 provides that Notwithstanding anything contained in sub-section (1), where the goods being sent or taken on approval for sale or return are removed before the supply takes place, the invoice shall be issued before or at the time of supply or six months from the date of removal,whichever is earlier.

Notification no. 66/2020 of Central Tax dated 21st September 2020 provides that where any goods have being sent or taken out of India on approval for sale or return, which falls during the period from the 20 March, 2020 to the 30 October, 2020, and where completion or compliance of such action has not been made within such time, then, the time limit for completion or compliance of such action, shall stand extended up to the 31 October, 2020.

SOURCE : CBIC NOTIFICATIONS

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