Transfer money one company to another company ( tax payer) for payment of tax liability
This query is : Resolved
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- ITR 6 Schedule CFL and UD Issues
- Not a CA , can we prepare balance sheet
- Income Type for interest from government bonds
- TDS RATE ON RENT PAID TO NRI
- FREELANCING ACCOUNTANT
- TCS ON SOFTWARE SALES
- Gstr 9 2023-24
- GST Form ADT-02
- Reporting of savings account interest income
- PAYMENT TO OPEN AI AND ENVATO ELEMENT
- From 15CA for remittance by domestic travel agent by to Foreign Destination Management Company.
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
