Amortised cost of tool- inclusion in the value for GST
Query (Issue) Started By: – Ramaswamy S Dated:- 10-11-2017 Last Reply Date:- 22-3-2018 Goods and Services Tax – GST
Got 6 Replies
GST
Erstwhile Excise law the cost of the amortised value of tool is to be added to arrive at the transaction value as per Section 4 read with Valuation rules.
\nNow under Section 15 of the CGST Act read with Rule 27 of the CGST Rules, it appears that the amortised cost ot the tool to be included in the value for GST.
\nGOI Twitter reply to my tweet also says Yes to be included.The tweets of GOI have a disclaimer
\nHowever, the customers mostly the MNC and auto giants are of the view that under the GST , the amortised cost of the tool is not includib<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n we can argue that since the supplier has not incurred any expenditure in respect of the tool supplied free of cost amortized value of the tool need not be included in the transaction value. However the issue will get settled only through litigation. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Amortised cost of tool- inclusion in the value for GST Query (Issue) Started By: – Ramaswamy S Dated:- 10-11-2017 Last Reply Date:- 22-3-2018 Goods and Services Tax – GSTGot 6 RepliesGSTErstwhile Excise law the cost of the amortised value of tool is to be added to arrive at the transaction value as per Section 4 … Continue reading “Amortised cost of tool- inclusion in the value for GST”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-8621","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/8621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8621"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/8621\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
\nReply By CS SANJAY MALHOTRA:
\nThe Reply:
\nEndorsed the views of Sh. Rajgopalan as is area of dispute.
\nReply By Ramaswamy S:
\nThe Reply:
\nThe supplier himself manufactures the tool as per the design and specification of the customer. The tool so manufactured were used in the manufacture of components for the customer. Therefore, the amortised cost of the tool was added to the value of the component when the components were sold to the customer.
\nIn the erstwhile law , for the tools exemption und<\/p>\n
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