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 Threads
- Errors in ITR Filing: Minimum One Character Requir
- Which ITR Opt
- Employer Details for NRI
- Section 194C or 194J apply in survey fee to determ
- Accidental Switch to New Regime using Form 10-IEA
- Should I file Revised Return U/S 139 (5)?
- Voice commands for Tally ERP - would CAs find this
- ITR-2 Filing Blocked – BFLA Schedule Bug in
- As a Govt. Office can make Advance payment to supp
- How to declare negative purchase in ITR3
Related Threads
CAclubindia
