Taking input tax credit in respect of inputs and capital goods sent for job work.

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....sent to a job-worker for job-work. (2) Notwithstanding anything contained in clause (b) of sub-section (2) of section 16, the principal shall be entitled to take credit of input tax on inputs even if the inputs are directly sent to a job-worker for job-work without being first brought to his place of business. (3) Where the inputs sent for job-work are not received back by the principal after co....

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....d to take credit of input tax on capital goods even if the capital goods are directly sent to a job-worker for job-work without being first brought to his place of business. (6) Where the capital goods sent for job-work are not received back by the principal within a period of three years of being sent out, it shall be deemed that such capital goods had been supplied by the principal to the job-w....