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Amortised cost of tool- inclusion in the value for GST

Goods and Services Tax - Started By: - Ramaswamy S - Dated:- 10-11-2017 Last Replied Date:- 13-11-2017 - 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 Valuati .....

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a disclaimer However, the customers mostly the MNC and auto giants are of the view that under the GST , the amortised cost of the tool is not includible to arrive at the value for GST. Seek your views. Regards S.Ramaswamy - Reply By MARIAPPAN GOVINDA .....

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supply and any amount charged for anything done by the supplier in respect of the supply of goods or services or both at the time of, or before delivery of goods or supply of services. Therefore, if the supplier procure the tool as instructed by the .....

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of cost amortized value of the tool need not be included in the transaction value. However the issue will get settled only through litigation. - Reply By CS SANJAY MALHOTRA - The Reply = Endorsed the views of Sh. Rajgopalan as is area of dispute. - .....

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the tool was added to the value of the component when the components were sold to the customer. In the erstwhile law , for the tools exemption under 67/95 CE was claimed and the Local VAT was charged to the customer (even if the customer was outside .....

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