Section 151 - Semi-finished goods removed for job work and returned on or after the appointed day

Transitional relief for semi-finished goods: tax exemption where returns occur within prescribed transitional period, subject to declaration.

Transitional relief applies to semi-finished goods removed for job work before the appointed day and returned on or after it: no tax is payable if returned to the original factory or place of business within six months from the appointed day, subject to a possible extension by the competent authority; goods returned after the permitted period are taxable with liability on the returning person or the manufacturer/despatcher as applicable. The relief applies only if the manufacturer/despatcher and the job-worker declare the goods held in stock on the appointed day in the prescribed form, manner and time.