Job work/conversion charges
This query is : Resolved
19 January 2008
We are the mfrs of bulk drugs and doing job work/conversion of raw material to intermediates for others. we are receiving raw material from the party and converting into intermediates in our factory and sending back.
wat is the treatement in service tax,VAT and excise?
wat is the treatement in service tax,VAT and excise?
21 January 2008
The central govt, vide notification no.8/2005 dated 1-3-2005, has exempted taxable service of production of goods on behalf of the client referred to in subclause(v) of clause (19) of section 65 of Finance Act 1994 from the whole of service tax leviable thereon.
The aboe is subject to the condition thatgoods are produced using raw material or semi-finished goods supplied by the client for production of goods on which appropriate duty of excise is payable.
(In other words,the goods shall not be 'nil'rated or exempted ones from central excise)
Such production should not,however,amount to manufacture within the meaning of clause (f) of section 2 of Central Excise Act 1944.
The aboe is subject to the condition thatgoods are produced using raw material or semi-finished goods supplied by the client for production of goods on which appropriate duty of excise is payable.
(In other words,the goods shall not be 'nil'rated or exempted ones from central excise)
Such production should not,however,amount to manufacture within the meaning of clause (f) of section 2 of Central Excise Act 1944.
Message likes :
1 times
04 February 2008
If the final goods are subject to duty, then service tax is not payable
a transaction cannot be taxed twice.
a transaction cannot be taxed twice.
11 May 2012
The query has been answered, accordingly closed.
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Building and other construction workers welfare cess act 1996
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Bank Accounts in Balance Sheet for ITR 3
- Gift of mutual fund units to daughter
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Form 10BD Filling
- Are Customised Caps the Smartest Way to Promote Your Brand?
- Capital gain of property recd from partnership firm
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
