28 October 2017
The GST network (GSTN) has introduced an offline excel-based tool for preparing and uploading the details of inputs or capital goods sent and received from job workers in form GST ITC-04 for the July-September 2017 quarter, as per a report in Moneycontrol. As per GST Rule 45, businesses are required to furnish such details in ITC-04 on quarterly basis. A principal manufacturer often sends semi-furnished goods to job workers for further processing of the product. According to GSTN CEO Prakash Kumar, upon uploading the details on GST portal, the system will summarise the data uploaded which then needs to be digitally signed or verified through electronic verification code (EVC). Also, the data uploaded will be available for editing or for making new additions.
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