Which tax on jobwork

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Accountant
27 Points Posted on 13 December 2016

A manufacturing company undertaking jobwork process of converting Plastic grannuals to preform (i.e. semi finished item) and charges jobwork/processing charges for convertion. Jobworker receive raw material from party by Excise Jobwork Challan 4(5)a.

Which tax is aplicable on Jobwork Charges, Excise Duty or Service Tax for Jobworker Invoicing

 

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On 13 December 2016 at 22:25 Report
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student
110 Points Posted on 14 December 2016
for jobwork....
1. excise: as the item remains semi finished after job work then you are not responsible for excise. ultimate mfg will pay.
2. service tax : job work is exempted under mega exemption
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On 14 December 2016 at 00:14
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student
110 Points Posted on 14 December 2016
one more thing... take cenvat credit if the finished item is taxable in hands of that ultimate mfg.
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On 14 December 2016 at 00:19

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