TaxTMI 
TaxTMI 
hire purchase transaction - gst
X X X X Extracts X X X X
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
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
X X X X Extracts X X X X
....HI: The Reply: FAQ Q18. Whether goods supplied on hire purchase basis will be treated as supply of goods or supply of services? Why? Ans. Supply of goods on hire purchase shall be treated....
X X X X Extracts X X X X
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
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
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 ....