Value-Added Tax Act, 1972

Tax due and payable.

19.—(1) Tax chargeable under section 2 (1) (a) shall be due—

(a) in case an invoice is required under section 17 to be issued, at the time of issue of the invoice, or if the invoice is not issued in due time, upon the expiration of the period within which the invoice should have been issued;

(b) in case a person is liable under subsection (5) or (6) of section 17 to pay an amount of tax by reference to an invoice or credit note issued by him, at the time of issue of such invoice or credit note, and

(c) in any other case, at the time the goods are delivered or the services are rendered:

Provided that in relation to any delivery of taxable goods or rendering of taxable services in respect of which the moneys received are authorised in accordance with section 14 to be treated as the consideration for such delivery or rendering—

(i) paragraph (a) shall not apply, and

(ii) the tax chargeable in relation to the delivery of goods or the rendering of services to other persons shall be due when the moneys in respect of such transactions are received.

(2) Notwithstanding anything in this Act, the tax chargeable under section 2 (1) (a) or the relevant part thereof, shall fall due not later than the time when the amount in respect of which it is payable has been received either in full or in part and where the amount is received in full or in part before the delivery of the goods or the rendering of the service to which it relates, a delivery or rendering for a consideration equal to the amount received of such part of the goods or services as is equal in value to the amount received, shall be deemed, for the purposes of this Act, to have taken place at the time of such receipt.

(3) Within nine days immediately after the tenth day of the month immediately following a taxable period, an accountable person shall furnish to the Collector-General a true and correct return prepared in accordance with regulations of the amount of tax which became due under section 2 (1) (a) by him during the taxable period and the amount, if any, which may be deducted in accordance with section 12 in computing the amount of tax payable by him in respect of such taxable period, and shall at the same time remit to the Collector-General the amount of tax, if any, payable by him in respect of such taxable period.