hire purchase transaction - gst

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ire purchase transaction - gst<br> Query (Issue) Started By: - Richa Goyal Dated:- 1-2-2020 Last Reply Date:- 26-5-2020 Goods and Services Tax - GST<br>Got 3 Replies<br>GST<br>How do we charge gst and....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... raise invoices on a hire purchase transaction? And what should be the value of a machine which is sent under a hire purchase transaction in the EWAY bill. Regards Richa Goyal Reply By KASTURI SET....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....HI: The Reply: FAQ Q18.&emsp;Whether goods supplied on hire purchase basis will be treated as supply of goods or supply of services? Why? Ans.&emsp;Supply of goods on hire purchase shall be treated....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... as supply of goods as there is transfer of title, albeit at a future date. In my view, transaction value (whatever charged or to be charged) of the goods should be mentioned on invoice. Invoice is ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....to be raised as usual. Reply By Richa Goyal: The Reply: Thank you for your advice Reply By YAGAY andSUN: The Reply: Under a hire purchase transaction, ownership of the goods will pass on to the bu....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....yer on payment of last installment. Hence, GST is applicable on hire purchase transaction as its covered under entry 1 (c) of Schedule II of CGST Act.<br> Discussion Forum - Knowledge Sharing ....