Job work transition: no tax on inputs returned within the prescribed period if declared, otherwise input tax credit recovery.

Transitional rules exempt tax where inputs, semi finished goods, or goods sent for tests before the appointed day are returned after the appointed day within six months (extendable by the Chief Commissioner up to two months); failure to return triggers recovery of input tax credit under section 142(8)(a). Transfers to registered premises for supply or export remain available within the period and exemption requires prescribed declarations by both the despatching person and the job worker of goods held on the appointed day.

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