Form Gst ITC 04

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Student
213 Points Posted on 30 June 2020
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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On 30 June 2020 at 09:58 Report
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This discussion clarifies how to fill out Form GST ITC-04 when goods are sent to an unregistered job worker and returned. It explains that the taxable value and applicable tax rate of the goods should be entered. This is crucial for tracking goods returned within one year, as failure to do so may result in a deemed supply. The form is for reporting purposes and does not create a tax liability.

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Chartered Accountant in Practice
1260 Points Posted on 30 June 2020
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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On 30 June 2020 at 10:07
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Student
213 Points Posted on 30 June 2020
But job work from unregistered person is not liable to reverse charge than how to enter tax rate?
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On 30 June 2020 at 10:25
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Chartered Accountant in Practice
1260 Points Posted on 30 June 2020
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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On 30 June 2020 at 10:27
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Student
213 Points Posted on 30 June 2020
So i have to enter gst rate applicsble to that goods ?
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On 30 June 2020 at 10:29
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Chartered Accountant in Practice
1260 Points Posted on 30 June 2020
Yes, you have to do that.
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On 30 June 2020 at 11:48
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4215 Points Posted on 30 June 2020
You have to maintain delivery challan for the movement of goods
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On 30 June 2020 at 16:26

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