https://www.taxtmi.com/article/detailed?id=6425 The proposed GST replaces manufacture/service/sale with the supply concept, so transfers of goods by a principal to a job worker will be treated as supplies attracting CGST/SGST for intrastate movements or IGST for interstate movements, with reciprocal input tax credit. Critical operational issues include valuation where no consideration passes, tax treatment of supplied capital goods and additional inter-state tax on transfers other than non-sale movements, cash-flow implications from tax on high-value supplied goods, and documentary/accounting measures to distinguish non-sale supplies from sales. en-us Sat, 05 Sep 2015 11:06:51 +0530 Sat, 05 Sep 2015 11:06:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6425 The proposed GST replaces manufacture/service/sale with the supply concept, so transfers of goods by a principal to a job worker will be treated as supplies attracting CGST/SGST for intrastate movements or IGST for interstate movements, with reciprocal input tax credit. Critical operational issues include valuation where no consideration passes, tax treatment of supplied capital goods and additional inter-state tax on transfers other than non-sale movements, cash-flow implications from tax on high-value supplied goods, and documentary/accounting measures to distinguish non-sale supplies from sales. Articles Goods and Services Tax - GST Sat, 05 Sep 2015 11:06:51 +0530 https://www.taxtmi.com/article/detailed?id=6425