Section 141 - Transitional provisions relating to jobwork.

Time-bound return requirement permits tax-free return of jobwork goods if returned within prescribed period, subject to declaration.

Transitional provisions permit inputs, semi-finished goods and goods sent for testing or processing under prior law to be returned without payment of tax if returned within the prescribed time; the Commissioner may grant a limited extension for sufficient cause, and failure to return within the period leads to recovery of input tax credit. The tax exemption is contingent on the consignor and jobworker declaring goods held on the appointed day in the prescribed form, and the law allows transfers to registered persons for supply or export within the period.