Services provided to related person
This query is : Resolved
29 May 2019
Amount is paid by XYZ Pvt. Ltd. directly to the vendors in relation to new Residential Flat owned by the Director of XYZ Pvt. Ltd. The director is a wholetime director. This amount is initially paid by XYZ to the vendors and then is adjusted against the loan earlier given by the director to XYZ. If no amount is shown as outstanding to be paid to director against loan given by director, the amount paid to vendors by XYZ is shown as loan given to director in the books of accounts. Is XYZ liable to pay GST on the amount paid to vendors since it will be treated as service given to related person?
CA R SEETHARAMAN
(Expert)
29 May 2019
Loan given to director will be adjusted or recovered later hence it will not be treated as service GST not applicable.
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