4.
| (1) The supply of goods shall be deemed to have taken place at the time of the occurrence of any one of the following whichever, occurs earlier :-
| | (a)the issue of an invoice by the supplier in respect of the goods ; or | | |
| | (b)a payment for the goods including any advance payment received by the supplier; or | | |
| | (c)a payment for the goods is due to the supplier in respect of such supply ; or | | |
| | (d)the delivery of the goods have been effected. | | |
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| (2) Notwithstanding the provisions of paragraph (d) of subsection (1), where an invoice is issued in respect of goods delivered, within ten days from the date of delivery-of such goods, the time of supply of such goods, shall be deemed to be the time at which the invoice was issued. |
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| (3)The supply of services shall be deemed to have taken place, at the time, of the occurrence at any of the following whichever occurs earlier -
| | (a)the service was performed; or | | |
| | (b)a payment is received for the services rendered or for future services : or | | |
| | (c)a payment is due for the services rendered or for future services : or | | |
| | (d)an invoice is issued in respect of the services rendered | | |
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| (4)Notwithstanding the provisions of paragraph (a) of subsection (3), where an invoice is issued in respect of services supplied within ten days from the date of performance of such service shall be deemed to be the time at which the invoice was issued |
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| (5)Not withstanding the provisions of subsections (1)and (3), a supply shall be deemed to take place
| | (a)where a supply is made under an agreement entered into, on or after April 1,1998, other than a hire purchase agreement, which provides for periodical payments, when the payment is due or when the payment is received, whichever is earlier , and | | |
| | (b)where goods are supplied under a hire purchase agreement at the time the agreement is entered into | | |
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| (6)Where the Commissioner General directs any registered person to account for the tax on a payment basis under section 23. the time of supply of goods or services supplied by such person shall be the time at which the payment in respect of such supply is received |
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| (7)Where the time of supply falls within any taxable period or portion of a taxable period ending on or before July 31, 2002. under the Goods and Services Tax Act, No. 34 of 1946 and any event referred to in this section -takes place under this Act in relation to the same supply, such event shall not be considered as a time of supply. |
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Sri Lanka Consolidated Acts