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Decoding GST: Job Work vs. Manufacturing Services
In this article, we will explore the concepts of job work and manufacturing services in the context of Goods and Services Tax (GST). Although these terms may seem similar, they are distinct concepts with different classifications and tax rates. Let’s dive into the details. Under Goods and service tax act, the terms ‘job work’ and ‘manufacture’ have been separately defined under Section 2(68) and Section 2(72) respectively of the CGST Act, 2017............. Read More
Jobwork means the activity of processing on the goods belonging to another person. For example, big shoe manufacturers (principals) send out the half-made shoes (upper part) to smaller manufacturers (job workers) to fit in the soles. In the context of GST, Job Work refers to any process that is undertaken by a job worker on behalf of a principal, who remains the owner of the goods throughout the job work process...... Read More