https://www.taxtmi.com/article/detailed?id=7434 Liability for job work under GST hinges on whether the process amounts to manufacture; where it does, manufacturing tax consequences follow, whereas non manufacturing processing may attract service taxation unless the principal has paid appropriate duty. Valuation follows transaction value with specified inclusions/exclusions and hierarchical valuation rules for non monetary or related party supplies. Input tax credit entitlement requires prescribed documents, receipt of goods/services, tax payment and return filing; inputs/capital goods sent to job workers may be claimed by principals but are deemed supplied if not returned within prescribed periods. Challan, invoicing and reconciliation requirements are mandatory and affect liability. en-us Sat, 27 May 2017 06:55:54 +0530 Sat, 27 May 2017 06:55:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7434 Liability for job work under GST hinges on whether the process amounts to manufacture; where it does, manufacturing tax consequences follow, whereas non manufacturing processing may attract service taxation unless the principal has paid appropriate duty. Valuation follows transaction value with specified inclusions/exclusions and hierarchical valuation rules for non monetary or related party supplies. Input tax credit entitlement requires prescribed documents, receipt of goods/services, tax payment and return filing; inputs/capital goods sent to job workers may be claimed by principals but are deemed supplied if not returned within prescribed periods. Challan, invoicing and reconciliation requirements are mandatory and affect liability. Articles Goods and Services Tax - GST Sat, 27 May 2017 06:55:54 +0530 https://www.taxtmi.com/article/detailed?id=7434