As per the act, any transfer of title in goods under an agreement where the property in goods shall pass at a future date upon payment of full consideration is considered as a supply of goods.
Supply of goods on hire purchase shall be treated as supply of goods as there is a transfer of ownership on the payment of last installment and GST is applicable.
Please mark your satisfactory level...
My Dear ,
I thank you for marking the answer as satisfactory.
I have noted.
It will be very nice and helpful to our other members (and the answerer too) if you mark your satisfaction level on the grade scale below.
Please feel free to mark any point. I don't share it with anyone. I use it for doing my internal calculations only. I use these calculations to evaluate the service performance of the relevant virtuoso.
Here is the grade scale:
Thank you,
Yours sincerely,
Anu, Thakurani's bestie