we spply the raw material goods to the external job worker for job work purpose. after job work is done, job worker will return the finished goods.
1. while sending raw material from Principal to Jobwork do we need to pay tax?
2. If so, I have sent 1000kgs to the jobworker. He consumed 800 and 200 not used for Jobwork. I have to take 200 kgs from jobworker. any tax applicable?
Menu
job work
Replies (4)
1. No , send it on delivery challan (e-way bill is mantadory)
2. No tax is applicable on 200kg,. return by job worker
2. No tax is applicable on 200kg,. return by job worker
1st one is correct answer
Thanq so much for quickly response.
3. Is there any law that we need to maintain Reconcilation of the Quantity. Howmuch we have sent and howmuch received & Pending.
4. If I'm not going to receive the Material from Jobworker within One year. What is procedure to follow.
3. Is there any law that we need to maintain Reconcilation of the Quantity. Howmuch we have sent and howmuch received & Pending.
4. If I'm not going to receive the Material from Jobworker within One year. What is procedure to follow.
Yes , u have maintain inventory for the same , file the ITC 04 on qtly basis for all your outward/inward
inputs and/or capital goods sent to a job worker are required to be returned to the principal within 1 year and 3 years, respectively, from the date of sending such goods to the job-worker.
If not not returned in prescribe time then its deem to supply & gst has to be deposit by Principal with interest
inputs and/or capital goods sent to a job worker are required to be returned to the principal within 1 year and 3 years, respectively, from the date of sending such goods to the job-worker.
If not not returned in prescribe time then its deem to supply & gst has to be deposit by Principal with interest
Recent Topic
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
- Return filing for intervening period upto date of
- EPF Withdrawal taxation
- While e filing otp not generating
- INCOME FROM CLOSING OF NSS -1992 -EXEMPT UNDER W
- GPF AND COMMUTED PENSION RECEIVED
Related Topics
CAclubindia
