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valuation of goods
suppose my customer transfers me a machinery on which he has taken credit of rs.10 lac and I produce 10 lac units of finished product from that machinery. now the cost of the finished product is rs.13 . n credit on machinery per unit of product comes to. Rs.1 per unit . under the existing law the taxable value of the product is rs.13 +1=14. what will be the taxable value under gst?
Replies (2)
| Originally posted by : bhavleen | ||
 |
suppose my customer transfers me a machinery on which he has taken credit of rs.10 lac and I produce 10 lac units of finished product from that machinery. now the cost of the finished product is rs.13 . n credit on machinery per unit of product comes to. Rs.1 per unit . under the existing law the taxable value of the product is rs.13 +1=14. what will be the taxable value under gst? |  |
this is case of "Price is not sole consideration", therefore add Rs1/- P.u. machinery supplied by buyer. Similar provision is in GST law. Pl note that whole valuation concept is not similar but the question you rasied is similar in GST and old excise act.
thank you
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