https://www.taxtmi.com/circulars?id=62414 Where moulds and dies owned by an OEM are provided free of cost to an unrelated component manufacturer, such provision is not a supply and the OEM need not reverse input tax credit; the component manufacturer must not add the cost of those moulds/dies to the value of its supplies. If, however, contracts envisage components made using moulds/dies belonging to the component manufacturer but supplied free by the OEM, the amortised cost must be added to component value and the OEM must reverse credit. Separate valuation applies where goods and services are invoiced separately, auction principals and auctioneers may maintain books at principal place on notice and remain eligible for input tax credit, and rail deliveries require production of the e way bill. en-us Wed, 13 Mar 2019 00:00:00 +0530 Sat, 14 Sep 2019 13:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=62414 Where moulds and dies owned by an OEM are provided free of cost to an unrelated component manufacturer, such provision is not a supply and the OEM need not reverse input tax credit; the component manufacturer must not add the cost of those moulds/dies to the value of its supplies. If, however, contracts envisage components made using moulds/dies belonging to the component manufacturer but supplied free by the OEM, the amortised cost must be added to component value and the OEM must reverse credit. Separate valuation applies where goods and services are invoiced separately, auction principals and auctioneers may maintain books at principal place on notice and remain eligible for input tax credit, and rail deliveries require production of the e way bill. Circulars GST - States Wed, 13 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=62414