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Form Gst ITC 04


Namit (Student)     30 June 2020

Namit
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A registered taxpayer has sent goods on jobwork basis to unregistered job worker and received it back.Now while filing form ITC 04 what is to be mentioned in taxable value column and rate of tax column?

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Mayank Gadiya   30 June 2020

Mayank Gadiya

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The value of the goods and the tax rate applicable for such goods. These details are for keeping a track that goods are received back within 1 year. If not received, these values would be considered for demanding tax as it would become deemed supply.

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Namit (Student)     30 June 2020

Namit
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But job work from unregistered person is not liable to reverse charge than how to enter tax rate?

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Mayank Gadiya   30 June 2020

Mayank Gadiya

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It is not reverse charge. ITC-04 is only for giving details of goods sent and received back. It does not create any liability.

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Namit (Student)     30 June 2020

Namit
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So i have to enter gst rate applicsble to that goods ?

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Mayank Gadiya   30 June 2020

Mayank Gadiya

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Yes, you have to do that.

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KRISSHNAN KP   30 June 2020

KRISSHNAN KP

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You have to maintain delivery challan for the movement of goods


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