Job Work Return - Tools

[Prakash and Thiagarajan]

Dear All,

I would like to know the industry practice and the provision of law in showing Tools sent to job worker in the job work return. While Tools are also capital goods, these donot have the 3 yrs time limit to get the Tools back by the principal. Should this still be shown in the Job Work return as capital goods. Can anyone share relevant provision/guideline for this.

Regards,

Ganesh

AI Summary

Tools as Capital Goods: disclose in the job work return; reporting in ITC-04 avoids allegations of suppression.
Tools sent to a job worker are capital goods if capitalised in the principal's books and are subject to the special procedural provisions for moulds, dies, jigs, fixtures and tools; disclosing such tools in the job-work return (ITC-04) is permissible and advisable to avoid allegations of suppression and to conform with the statutory and circular guidance.