How to differentiate Capital goods with Semi-finished goods?
What is Capital goods? How does a Semi-finished goods work under GST regime? What are the difference between Capital goods and Semi-finished goods?
Under GST system, the following information explains about Capital goods and Semi-finished goods.
As per GST terms, Capital goods means goods, the value of which is capitalized in the books of account of the person claiming the input tax credit and which are used or intended to be used in the course or furtherance of business. Semi-finished goods mean goods, such as partly finished goods, used as inputs in the production of other goods including final goods. A firm may make and then use intermediate goods, or make and then sell, or buy then use them.
The details about Capital goods and Semi-finished goods with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Capital goods and Semi-finished goods, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Capital goods and Semi-finished goods separately below. You may kindly read the below links to know more about Semi-finished goods and Capital goods.
What is Capital goods under GST
Meaning of Semi-finished goods
The above information easily explains about Semi-finished goods and Capital goods.
We hope, you have satisfied with the difference between Capital goods and Semi-finished goods explained above. Do you have different thought on difference between Semi-finished goods and Capital goods?
Share below your thoughts about Capital goods and Semi-finished goods
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