IDT STUDY CIRCLE MEETING GST ISSUES IN JOB WORK TRANSACTIONS & GOODS SENT ON APPROVAL TRANSACTIONS
June 29 @ 5:00 pm - 7:00 pm
In era of competition every client is looking for complete solution with perfection under one roof. The manufacturing entities instead of carrying out entire operations themselves, outsource few processes to job workers to get the job done faster and more efficient manner.
Job work sector constitutes a significant industry in Indian economy. It includes outsourced activities that may or may not culminate into manufacture. Job-work is processing of goods supplied by the principal. The concept of job work already exists in Central Excise, wherein a principal manufacturer can send inputs or semi-finished goods to a job worker for further processing. Many facilities, procedural concessions have been given to the job workers as well as the principal supplier who sends goods for job work.The whole idea is to make principal responsible for meeting compliances on behalf of the job worker on the goods processed by job worker, considering the fact that typically the job- workers are small persons who are unable to comply with the discrete provisions of the law. There are many inherent issues in job work transactions such as timely receive back processed goods / capital goods supplied to Job worker, direct sales from job worker premises, registration of the job worker premises, accumulation of scrap with job worker etc.
Many a time a supplier sends goods “on approval basis” to prospective buyer. Buyer will be given sufficient time to accept the goods or reject the same. When to book supply for such transactions? What about GST liability?
To discuss GST Issues of Job work transactions and also issues regarding goods sent on approval. IDT Committee has organised study circle meeting as under
The details of the meeting is as under:
|Date & Day||:||Tuesday, 29th June 2021|
|Time||:||5.00 pm to 7.00 pm|
|Topic||:||GST Issues in Job Work Transactions & Goods sent on Approval Transactions|
|Group Leader||:||CA Archit Agarwal|
|Chairman||:||CA Vasant Bhat|
For IDT Study Circle Members: NIL
CTC Members:- Rs. 200/- + Rs. 36/- (GST) = Rs. 236/-
Non-Members:- Rs. 400/- + Rs. 72/- (GST) = Rs. 472/-
Participation Fees to be paid online on the website : CLICK HERE to make payment