ITC on 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

....b work procedure Rule 55 Transportation of goods without issue of invoice 11.1 Job work: Definition: Any treatment or process undertaken by a person on goods belonging to another registered person as defined under Section 2(68). * Job worker: A person who undertakes any treatment or process on goods belonging to another registered person. * Principal: A person on whose behalf an agent car....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... * If the inputs / capital goods are not received back within 1 year / 3 years, it shall be deemed that such inputs / capital goods had been supplied by principal to the job worker on the day when the said inputs / capital goods were sent out. * In case of non-receipt of the inputs / capital goods within the time prescribed, the principal shall issue an invoice for the same and declare such sup....