Last updated on June 29th, 2017 at 12:13 pm
For manufacturers, an important concern is the tax treatment of goods sent for job work in the current tax regime which are being held by the job worker as on 1st July, 2017 – the date of transition to Goods & Service Tax. Two questions that such principal manufacturers will have are-
- Will tax be applicable when the goods sent for job work in the current regime are brought back or supplied in the GST regime?
- What is the documentation required for goods lying with a job worker on 1st July, 2017?