AAR : Amortization cost of tools received FOC from customer not includible in value of finished goods manufactured

Dec 14,2018

Maharashtra AAR holds that the amortized value of tools received on FOC basis from customer shall not be included in the value of finished goods manufactured and supplied by the applicant to the customer; Refers to CBIC clarification issued vide Circular No. 47/21/2018-GAT dated June 08, 2018 which clarifies that goods owned by the OEM that are provided to a component manufacturer on FOC basis do not constitute supply absence consideration; Perusing the agreement copy and pur...


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