In section 143 of CGST ACT 2017, they have added one explanation which says as follows"for the purpose of jobwork, any input includes intermediate goods arising out from Any treatment or process carried on the inputs by principal or jobworker"
As per section 2(59) of the CGST ACT 2017 inputs means"any goods other than capital goods used or intended to be used by supplier in the course or furtherance of business"
When inputs already includes all types of goods why have they provided separately the explanation that inputs includes intermediate goods?
Menu
Purpose of explanation?
Replies (2)
it means input on which already work has been done by either principal or another job worker , which make that input intermediate goods i.e WIP , it will still be input for you.. it means not only raw material supplied by principal is input for you, even WIP will be considered as input.
But in GST there is no concept of WIP, Also WIP is considered as inputs only as per section 2(59)?
Recent Topics :
- Report in GSTR 1 ( Credit Note ) for Wrong GST Rat
- Reply of summons issued under section 70 of the cg
- How to Bulk GSTIN Number Verify and Validation
- OPC Annual Filing Defaults – Need Guidance t
- OPC Annual Filing Defaults – Need Guidance t
- FCGPR of a past period
- Discuss and Download CA Final Question Paper Nov 2
- Does Parag gupta's booster batch good for CA Inter
- Police Bandobost and GST Invoice
- Understanding where manual effort goes in audit wo
Related Topics :
CAclubindia
