https://www.taxtmi.com/forum/issue?id=113658 Retention of by products by a job worker is non monetary consideration that must be valued and added to taxable consideration for the job work supply; husk and rice bran retained cannot be treated as free and are taxable. Input tax credit is available on machinery parts and on capital goods (including a new rice sheller); a reduction in outward rate does not automatically deny ITC. Calculation of tax impact requires adding the value of retained by products to the consideration and applying the relevant tax rates and available ITC. en-us Sat, 21 Apr 2018 15:05:14 +0530 Thu, 23 Jan 2025 15:55:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=113658 Retention of by products by a job worker is non monetary consideration that must be valued and added to taxable consideration for the job work supply; husk and rice bran retained cannot be treated as free and are taxable. Input tax credit is available on machinery parts and on capital goods (including a new rice sheller); a reduction in outward rate does not automatically deny ITC. Calculation of tax impact requires adding the value of retained by products to the consideration and applying the relevant tax rates and available ITC. Discussion-Forum GST Sat, 21 Apr 2018 15:05:14 +0530 https://www.taxtmi.com/forum/issue?id=113658