KARNATAKA POWER TRANSMISSION CORPORATION LIMITED Corporate Office, Kaveri Bhavan, Bangalore ~ 560 009 Dated: 41 Jan 2019 No. FA(A&R)/KCO-18/77285/2017-18 All the Executive Engineers (Ele) / Accounts Officers, Major Works Divisions & TL&SS Divisions, KPTCL, Sir, Sub: Issue of Tax Invoices for Sale of Scrap/Assets under Buy-Back method- reg. Ref: 1) This office Circular No: FA (A&RY/KCO-18/77285//2017-18 dtd 09.08.2017, 2)This office Circular No: FA (A&RY/KCO-18/77285//2017-18 dtd 21.05.2018. 3)1.0 Note No.CEE(T&P)/SEE/EE (Py AEEP-3/2018-19/8343 Date:11.12.2018. wane Due to introduction of GST w.e.f. 01.07.2017, suitable guidelines for implementation of provisions of GST Act was issued vide circular No. FA (A&RYKCO-18/77285//2017-18 did, 09.08.2017. It was also envisaged in the above circular regarding provisions and procedures towards issue of tax invoices mentioning sale of scrap also. As per section 31 of CGST Act, every registered person has to issue tax invoices for supply of taxable goods, services or both, the above provision of issue of invoices are also applicable for procurement of goods involving buy-back of goods /assets-treated as outwards supply. ‘When goods are purchased under buy-back method, the unit where scrap goods / assets are held has to issue tax invoices for sale of buy-back items for the agreed value of buy-back goods / assets as noted in the relevant purchase order and also insist invoices for purchase of new goods / equipments on the original price (without considering buy-back amount) from the supplier. The issue of invoices for the outward supply under buy-back scheme is mandatory under T Act, Hence all the concerned units are required to issue invoices for the buy-back 7 | : Yougs faithfully, ae ee. | { 12 SL toil Copies.for kind information & needful action: 4 1. “All Chief Engineers, KPTCL: 2. All Financial Advisers, KPTCL. | [ iSCCCIT AWTS) 3. All Controtlers of KPTCL 11 Superintending Engineers, KPTCL ‘The Superintending Engineer, MIS, Computer Section for hosting the Cireular on e-Prasarana > Finance and Accounts> Costing and Taxation> Goods and Service Tax. 6, Deputy General Manager (Personnel)! (Technical), KPTCL. 7. All Deputy Controller of Accounts (UA), KPTCL, 8, All Deputy Controllers, KPTCL. 9. All Officers of FA (A&R) s office. 10. Personal Secretary to Managing /Director (Finance)/Director (Transmission). 11. MF,