Input tax credit entitlement for inputs and capital goods sent for job-work, with deeming rules if not returned within prescribed periods. The principal is entitled to input tax credit for inputs and capital goods sent to a job-worker, including when sent directly to the job-worker, subject to prescribed conditions. Inputs not returned or supplied from the job-worker's premises within the one-year period (counted from dispatch or from receipt if sent directly) are deemed supplied by the principal to the job-worker on the date of dispatch. Capital goods not returned within the three-year period (counted similarly) are deemed supplied on dispatch. Moulds, dies, jigs, fixtures, and tools are excluded from the deeming provisions.
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.
Input tax credit entitlement for inputs and capital goods sent for job-work, with deeming rules if not returned within prescribed periods.
The principal is entitled to input tax credit for inputs and capital goods sent to a job-worker, including when sent directly to the job-worker, subject to prescribed conditions. Inputs not returned or supplied from the job-worker's premises within the one-year period (counted from dispatch or from receipt if sent directly) are deemed supplied by the principal to the job-worker on the date of dispatch. Capital goods not returned within the three-year period (counted similarly) are deemed supplied on dispatch. Moulds, dies, jigs, fixtures, and tools are excluded from the deeming provisions.
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