9911796707
TMI BlogManner of Taking ITC in respect of goods transfer for Job Work & Job work procedure [ section 19 & 143 of CGST Act]X X X X Extracts X X X X X X X X Extracts X X X X ..... * The principal shall be allowed input tax credit on inputs or capital goods sent to a job work for job-work. * Notwithstanding anything contained in section 16(2)(b), * The principal shall be entitled to take credit of input tax on inputs or capital goods even if the inputs are directly sent to a job worker for job-work without being first brought to his place of business. * The inpu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er exceeds 5 crore during the immediately preceding financial year The period of 6 consecutive Months from a)1st April to 30th September, and b) 1st October to 31 March 25th of succeeding month ITC -04 In other Case Financial year 25th of succeeding month Job work procedure (section 143 of CGST Act ) The "principal" registered person may under intimation and subject to such con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thin India, or * with or without payment of tax for export, as the case may be: (c) The principal shall not supply the goods from the place of business of a job worker in accordance with the provisions of this clause unless * the said principal declares the place of business of the job worker as his additional place of business * except in a case- (i) where the job worker is registered u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plied by the principal to job worker on the day when the said inputs or capital goods were sent out and the said supply shall be declared in Form GSTR-1 and principal liable to pay the tax along with applicable interested according to section 50 of this act. (g) Notwithstanding anything contained in sub-sections (1) and (2) of Section 143, any waste and scrap generated during the job work * ma ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
