Valuation for goods under subcontracting.
This query is : Resolved
22 March 2010
Dear sir,
we are EOU unit and planning to undertake subcotracting.
1. We will receive major RM from party & will use some other input like nut bolt, etc.
After completion of process, what will be the value of final goods to raise invoice?
1. whether only value addition + labour+ profit
or
2. the value of RM supplied also to be include ?.
pls claify with relavent provision of not or circular.
rgds
varadarajan
we are EOU unit and planning to undertake subcotracting.
1. We will receive major RM from party & will use some other input like nut bolt, etc.
After completion of process, what will be the value of final goods to raise invoice?
1. whether only value addition + labour+ profit
or
2. the value of RM supplied also to be include ?.
pls claify with relavent provision of not or circular.
rgds
varadarajan
30 March 2010
RM plus job charges (no need to add value of self material used or profit, as these are already included in job charges.)
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