Taxable value in itc 04

ITC / Input 1918 views 4 replies

Repected Members,

Which amount to be consider in Taxable value in ITC 04 (Details of goods/capital goods sent to job worker and received back).

in case one person purchse R.M. from 1000 qty. @ 100 Rs.  = 100000+tax and also purchase R.M. from B 1000 qty, @ 80 =80000 When goods is to be sent to jobworker say 800 qty. which value to be consider in taxable value 800*100 or 800*80 (since above both purchased R.M. are same and also in store in same place.)

Replies (4)
calculate mean : (100+80)÷2= 90/-

Hence taxable value will be 800 X 90=72000/-
in my opinion it will calculate as per FIFO method.
in that case taxable value be as per date of purchase of such R.M.
in my opinion it should through FIFO also

what would be taxable value in jw to mfg?? 

Purchase Cost + Job charges ??

and our sales invoice to be taken or job workers ?


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