Transitional job-work returns exempt from tax if inputs/goods returned within prescribed period; non-compliance triggers input tax credit recovery. Transitional provisions exempt from tax inputs, semi finished goods and other goods despatched to job workers or other premises before the appointed day if returned to the principal's place of business within six months of the appointed day, subject to a Commissioner's extension of up to two months. If not returned within the prescribed period, the input tax credit is recoverable under clause (a) of sub section (8) of section 142. The exemption covers goods sent for processing, testing or manufacture, allows transfer to registered persons for supply or export within the period, and is conditional on prescribed stock declarations by the principal and the job worker.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Transitional job-work returns exempt from tax if inputs/goods returned within prescribed period; non-compliance triggers input tax credit recovery.
Transitional provisions exempt from tax inputs, semi finished goods and other goods despatched to job workers or other premises before the appointed day if returned to the principal's place of business within six months of the appointed day, subject to a Commissioner's extension of up to two months. If not returned within the prescribed period, the input tax credit is recoverable under clause (a) of sub section (8) of section 142. The exemption covers goods sent for processing, testing or manufacture, allows transfer to registered persons for supply or export within the period, and is conditional on prescribed stock declarations by the principal and the job worker.
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