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

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ent 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 jobworker for jobwork without being first brought to his place of business. (3) Where the inputs sent for jobwork are not received back by the principal after comple....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....credit of input tax on capital goods even if the capital goods are directly sent to a jobworker for jobwork without being first brought to his place of business. (6) Where the capital goods sent for jobwork 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 jobworker on the d....