Transfer money one company to another company ( tax payer) for payment of tax liability
This query is : Resolved
Quick Summary
11 June 2024
Hi Sir,
ABC company is staying in XYZ owned building. XYZ is liable for some tax payment to Government. XYZ company owner unable to pay the liability. ABC company is ready to pay the tax liability as he is staying in XYZ building. XYZ company not willing to return it back or adjusted against Loan/deposit.
Can ABC company transfer money to XYZ company to pay XYZ's tax liability. is that transaction attracts any GST.
Thanks
ChinnaRao.
ABC company is staying in XYZ owned building. XYZ is liable for some tax payment to Government. XYZ company owner unable to pay the liability. ABC company is ready to pay the tax liability as he is staying in XYZ building. XYZ company not willing to return it back or adjusted against Loan/deposit.
Can ABC company transfer money to XYZ company to pay XYZ's tax liability. is that transaction attracts any GST.
Thanks
ChinnaRao.
11 June 2024
Any possible response may be invited, if any provisions available under GST.
12 June 2024
Treat it now as loan/deposit GST not applicable.
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