Transactional Value of Job Work under Model GST Law

[Guest]

What would be transactional value under 'Job Work' on which GST to be applicable.It itself the Principal value of the Items on which job work to be done or it would be the service/Job order value between customer or service provider.Means an Items to be reconditioned or repaired whose original value was INR 100/- but for reconditioning order(service) value awarded by Cutomer INR 50/-

[Ganeshan Kalyani]

In my view the valuation provision is yet to come.

[YAGAY andSUN]

In GST, the valuation of any goods or service would be determined through Customs Valuation Rules as adopted in GST.

AI Summary

Transactional value for job work should reflect whether goods' principal value or the job-service consideration under GST valuation rules. Determination of transactional value for job work under the Model GST Law asks whether GST applies to the principal value of goods or to the job/service consideration. Forum responses indicate that valuation provisions were pending at the time and that GST valuation would follow the Customs Valuation Rules as adopted into GST.