Taxable value reporting in ITC-04

[Ashiesh Prremji]

Dear Experts,

My query is regarding reporting of Taxable Value in Table 4 of ITC-04. If we send semi- finished Goods to job-worker, how will find out taxable value & gst rate of the same to report ?

Thanks,

AI Summary

Clarification on Reporting Taxable Value and GST Rate for Semi-Finished Goods Sent to Job-Worker in ITC-04 Table 4 A participant in a discussion forum raised a query about reporting taxable value and GST rate for semi-finished goods sent to a job-worker in Table 4 of ITC-04. Responses suggested deriving taxable value based on costs incurred up to the semi-finished stage and noted that classification complexities can affect tax rates. It was mentioned that semi-finished and finished goods might share the same tax rate, and errors in delivery challans are procedural, thus not significantly impactful. The discussion also referenced an AAR decision indicating similar tax rates for semi-finished and finished goods.