Input tax credit on job work: principal may claim credit for inputs and capital goods; non-return treated as deemed supply. Input tax credit is allowed to the principal for inputs and capital goods sent to a job worker, including when sent directly to the job worker. If inputs ... Summary
Input tax credit on job work: principal may claim credit for inputs and capital goods; non-return treated as deemed supply.
Input tax credit is allowed to the principal for inputs and capital goods sent to a job worker, including when sent directly to the job worker. If inputs or capital goods are not returned or supplied from the job worker's premises within the statutory period, it is deemed that the principal supplied them to the job worker on the day they were sent; the deeming rule excludes moulds and dies, jigs and fixtures, and tools. The statutory period for direct sends is counted from the job worker's receipt.
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