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hire purchase transaction - gst, Goods and Services Tax - GST

Issue Id: - 115962
Dated: 1-2-2020
By:- Richa Goyal
hire purchase transaction - gst

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How do we charge gst and 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

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Showing Replies 1 to 2 of 2 Records

1 Dated: 1-2-2020
By:- KASTURI SETHI

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 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 to be raised as usual.


2 Dated: 3-2-2020
By:- Richa Goyal

Thank you for your advice


1

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