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GEMS & JEWELLERY INDUSTRY UNDER GST REGIME (PART-3)

Goods and Services Tax - GST - By: - Dr. Sanjiv Agarwal - Dated:- 25-1-2017 - Job work and GST Gems and jewellery sector is highly labour intensive and lot of work is done on a job work basis involving manual labour. The principal manufacturer has the option to send taxable goods without payment of GST to a job worker and bring it back, after processing, to any of his own place of business, for supplying such goods on payment of GST or export it. The principal also has the option to directly sup .....

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ious metals, falling under Chapter 71 of the Central Excise Tariff Act, 1985 are exempt from levy of service tax under entry No. 30 of Notification No.25/2012-ST. Transactions between Head office and Branch offices located outside/inside India Services provided to overseas branch would not be eligible as export of services due to specific exclusion for such transactions in the definition of export of service . This is similar to the existing provisions for export of service to overseas branches. .....

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ition of import of service does not specify such exclusion. Logically, definition of import of service also excludes services imported from overseas branch but clarity should bring for better understanding. Supply provided to domestic branch in other States shall be considered as distinct person. Accordingly, IGST would be leviable on such supplies. Domestic / SEZ Supply For units located in SEZ having operations across India and providing supply of services to customers located across India, th .....

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clarity by defining the term location of supplier of service and the place of supply of services is determined based on the location of recipient of service . With the assistance of these terms, the appropriate location for billing and the type of GST to be paid can be determined. Gems & Jewellery sector is demanding exemption from IGST for movement of goods and services in different SEZs across different States. Units located in SEZ Various benefits and incentives have been provided to the .....

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