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Installment payment of capital goods.
I have delivered one machine. non returnable basis. (capital type assets item) last December 16' as per agreement end customer will pay me 12000 per month as a rental basis for three year. after three year that machine treated as customer property. presently I have draw service invoice @ 15%. what can I do in GST regime & what is the tax rate.??
Replies (2)
Hire purchase is an agreement whereby a person hires goods for a period of time by paying instalments, and can own the goods at the end of the agreement if all instalments are paid. Hire purchase agreements usually last between 2 and 5 years, the most common last 3 years.
this is one type of sales, you have to charge the rate of machinery as per HSN in every invoice. raised
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