https://www.taxtmi.com/article/detailed?id=8392 Section 15(2)(b) of the CGST Act mandates inclusion in taxable value of amounts the supplier is liable to pay but which the recipient has incurred. When recipients procure and provide tooling or goods FOC, inclusion in the supplier's value arises only if the supplier would otherwise have been obliged to bear those costs. Departmental clarification states OEM owned moulds/dies supplied FOC in the course of the OEM's business do not constitute a supply and do not require reversal of input tax credit; where contractual allocation makes the supplier liable to provide tooling, amortised tooling cost must be included and credit reversed. en-us Sat, 23 Feb 2019 08:49:01 +0530 Sat, 23 Feb 2019 08:49:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8392 Section 15(2)(b) of the CGST Act mandates inclusion in taxable value of amounts the supplier is liable to pay but which the recipient has incurred. When recipients procure and provide tooling or goods FOC, inclusion in the supplier's value arises only if the supplier would otherwise have been obliged to bear those costs. Departmental clarification states OEM owned moulds/dies supplied FOC in the course of the OEM's business do not constitute a supply and do not require reversal of input tax credit; where contractual allocation makes the supplier liable to provide tooling, amortised tooling cost must be included and credit reversed. Articles Goods and Services Tax - GST Sat, 23 Feb 2019 08:49:01 +0530 https://www.taxtmi.com/article/detailed?id=8392