Goods and Services Tax – Started By: – Narendra Soni – Dated:- 20-9-2016 Last Replied Date:- 22-9-2016 – Dear Expert,Please suggest whether job work is taxable in GST.Taxable for Principle & for Job worker, registered and unregistered supplier & job workerIf returned after job working to principal, andIf direct sale/export from the premises of Job worker.Thanks. – Reply By MARIAPPAN GOVINDARAJAN – The Reply = In my view it will be there. However it can be ascertained on the outcome of regular Acts and Rules. – Reply By CA Surender Gupta – The Reply = As per the scheme under the present Model Draft GST law, Goods will be allowed to be send for Job Work without payment of Tax. Further, subject to conditions and permissions, goods wil
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ial to job worker and receiving it back or selling it from job worker premises is framed same as it is in current excise law. The time period of capital goods sending to job worker is also same in draft model gst law.Thanks experts to enlightening the subject. – Reply By YAGAY AND SUN – The Reply = Only one major change that if goods are not returned within prescribed time limit then interest along with Duty needs to be reversed and at the event of return of goods interest along with duty shall be taken back. – Reply By YAGAY AND SUN – The Reply = Comptroller Auditor General's Objections on CENVAT Credit CAG of India had conducted a Performance Audit on CENVAT credit scheme, to seek an assurance that provisions in the Act/rules/clarific
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re is no specific provision for charging interest on such delayed reversal. This results in loss of interest to the Government. Audit Recommends: The Government may consider inserting provision for charging interest in case of non/delayed reversal of CENVAT credit in respect of non/delayed receipt of goods sent to job worker. The Tariff Conference held on 28 and 29 October 2015 had decided that the interest is liable to be paid after the expiry of period of 180 days and there is no need for insertion of provision for charging interest. However, Audit is of the opinion that to avoid ambiguity there is a need to insert specific provision in this regard. – Reply By Ganeshan Kalyani – The Reply = Yes the good part is interest paid is also propo
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