Can one send Metal for Job Work under Tax Invoice showing them as Sale of Scrap at Scrap Value and not at Purhcasing Cost?
Pratikkumar Lodaya (Assistant Manager) (40 Points)
16 January 2012Can one send Metal for Job Work under Tax Invoice showing them as Sale of Scrap at Scrap Value and not at Purhcasing Cost?
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 17 January 2012
| Originally posted by : Pratikkumar Lodaya | ||
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Can one send Metal for Job Work under Tax Invoice showing them as Sale of Scrap at Scrap Value and not at Purhcasing Cost? |
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on issue of tax invoice, the job worker is deemed as buyer of scrap, and such job work would amount to manufacture, he has to pay excise and vat again when clearing goods, on finish goods value.
Pratikkumar Lodaya
(Assistant Manager)
(40 Points)
Replied 17 January 2012
| Originally posted by : Pratikkumar Lodaya | ||
|
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Can one send Metal for Job Work under Tax Invoice showing them as Sale of Scrap at Scrap Value and not at Purhcasing Cost? |
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Thank you. But will not it create problem from view point of Valuation for purpose of Excise. Its not actual sale of Scrap but send for Job wor purpose.
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 17 January 2012
jobwork materials should not be issued on tax invoice, but on challans for job work
Pratikkumar Lodaya
(Assistant Manager)
(40 Points)
Replied 17 January 2012
yup i agree with you that job work material should be send on annexure preferably and not on tax invoice.
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