Nash Industries (I) Pvt Ltd ., In re
Date: March 1, 2019
Subject Matter
Amortised cost of tools which are re-supplied back to the supplier free of cost shall not be added to the value of supply. AAR ruling set aside.
Summary
1. The applicant sought to know whether the amortised cost of the tool to be added to arrive at the value of the goods supplied for the purpose of GST under Section 15 of the CGST Act read with rule 27 of CGST Rules. 2. The AAR ruled that In the inst…
At the outset, we would like to make it clear that the provisions of both the COST Act and the KGST Act are parimaleria and have the same provisions in like matters, and differ from each other only on a few specific provisions; therefore, unless a mention is particularly made to such a dissimilar provision, a reference to the CGST Act would also mean a reference to the corresponding similar…