Input tax credit entitlement for inputs and capital goods sent for job-work, with deeming rules if not returned within prescribed periods.

The principal is entitled to input tax credit for inputs and capital goods sent to a job-worker, including when sent directly to the job-worker, subject to prescribed conditions. Inputs not returned or supplied from the job-worker's premises within the one-year period (counted from dispatch or from receipt if sent directly) are deemed supplied by the principal to the job-worker on the date of dispatch. Capital goods not returned within the three-year period (counted similarly) are deemed supplied on dispatch. Moulds, dies, jigs, fixtures, and tools are excluded from the deeming provisions.

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