Input tax credit on job-work: principal may claim credit for inputs and capital goods sent directly to job workers. Principals may claim input tax credit on inputs and capital goods sent to a job-worker, including when sent directly to the job-worker; failure to receive ... Summary
Input tax credit on job-work: principal may claim credit for inputs and capital goods sent directly to job workers.
Principals may claim input tax credit on inputs and capital goods sent to a job-worker, including when sent directly to the job-worker; failure to receive them back within the statutory periods results in those goods being deemed supplied by the principal on the day sent, while moulds, dies, jigs, fixtures and tools are excluded from the deemed-supply rule.
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