manju (Going to be CA soon.....) (92 Points)
29 November 2018
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 29 November 2018
RK Das
(27 Points)
Replied 09 December 2018
This form is half-baked and does not account for many such practical situations!
RK Das
(27 Points)
Replied 11 December 2018
Let me substantiate why ITC-04 is a half-baked form. Some common scenarios where this form does not work:
Scenario 1
Principal sends input goods A to jobworker on issue challan 1.
Principal sends input goods B to jobworker on issue challan 2.
Principal receives single finished goods C from Jobworker on receive challan 1.
Scenario 2
Principal sends input goods A to jobworker on issue challan 1.
Principal sends input goods B directly from supplier to jobworker on issue challan 2
Principal receives single finished goods C from Jobworker on receive challan 1.
Scenario 3
Principal sends input goods A to jobworker on issue challan 1.
Principal sends input goods B to jobworker on issue challan 2
Principal sends input goods C to jobworker on issue challan 3
Principal receives finished goods D from Jobworker on receive challan 1 which is made out of part of input goods A and entire input goods B.
Principal receives finished goods E from Jobworker on receive challan 1 which is made out of part of input goods A and entire input goods C.
==================================
These are common scenarios in most businesses.
In all these cases, it is not possible to give a single original challan number.
Hence the GSTN should update this form, suspend it for the previous and current years and implement it from 2019-2020.
Thanks for reading!
sushil
( )
(32 Points)
Replied 29 March 2019
What amt to be mentioned as taxable value & Qty if we records 4 different entries agst on lot?
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
