Conversion of iron wire into nails and job work
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 December 2014
dear sir/mam,
1)whether conversion of iron wire into nails amount to manufacturing .
2) if one party purchases iron wire and gives to another party for conversion into nails whether job work involved there. please explain the concept of job work.and how it can be accounted in both the party books.
1)whether conversion of iron wire into nails amount to manufacturing .
2) if one party purchases iron wire and gives to another party for conversion into nails whether job work involved there. please explain the concept of job work.and how it can be accounted in both the party books.
CA R SEETHARAMAN
(Expert)
19 December 2014
1. conversion of iron wire into nails amount to manufacturing.
2. Yes it is a job work.
The activity undertaken by small industries to complete the process on raw material/semi-finished goods as desired by principal manufacturer is known as "Job Work".
2. Yes it is a job work.
The activity undertaken by small industries to complete the process on raw material/semi-finished goods as desired by principal manufacturer is known as "Job Work".
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