https://www.taxtmi.com/caselaws?id=371997 The final ruling in the case determined that the amortized value of tools received on a Free of Cost (FOC) basis from the customer is not required to be included in the value of the finished goods manufactured and supplied by the applicant to the customer. This decision was based on the interpretation that such tools provided on an FOC basis do not constitute consideration under the Central Goods and Services Tax Act, 2017. The authority's analysis of the contractual obligations and ownership of the tools supported this conclusion, aligning with the department's contention and ultimately ruling against including the amortized value in the final product's value. en-us Tue, 31 Jul 2018 00:00:00 +0530 Fri, 28 Mar 2025 15:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371997 The final ruling in the case determined that the amortized value of tools received on a Free of Cost (FOC) basis from the customer is not required to be included in the value of the finished goods manufactured and supplied by the applicant to the customer. This decision was based on the interpretation that such tools provided on an FOC basis do not constitute consideration under the Central Goods and Services Tax Act, 2017. The authority's analysis of the contractual obligations and ownership of the tools supported this conclusion, aligning with the department's contention and ultimately ruling against including the amortized value in the final product's value. Case-Laws GST Tue, 31 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371997