GST invoice with firm name and partner's name and address
This query is : Resolved
23 June 2024
A partner of the firm bought a software online using his personal money and then transferred it to the firm through capital account. the website did not have any facility to give gst details, and because it was intented to be used by the firm, an account was opened in firm's name. but the invoice that got generated have the following details:
Sold to: Firm name ( picked up from account details)
partner name ( picked up from billing details)
partner address (billing details)
Now, will firm face any penalty from gst department?
Can the the firm claim depreciation on the software in itr?
Sold to: Firm name ( picked up from account details)
partner name ( picked up from billing details)
partner address (billing details)
Now, will firm face any penalty from gst department?
Can the the firm claim depreciation on the software in itr?
24 June 2024
No penalty from GST department.
Firm can claim depreciation on the software in ITR.
Firm can claim depreciation on the software in ITR.
28 June 2024
will the above transaction be considered a supply under CGST act 7(1) aa, made by the partner to the firm?
28 June 2024
Originally sold to firm name invoice, paid by partner no problem, so supply by partner to the firm will not arise.
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