Rule 45 CGST Rules 2017 : Conditions and restrictions in respect of inputs and capital goods sent to the job worker

By | July 13, 2017
(Last Updated On: November 24, 2017)

 Rule 45 CGST Rules 2017

( Rule 45 CGST Rules 2017 explains Conditions and restrictions in respect of inputs and capital goods sent to the job worker and is covered in Chapter V : Input Tax Credit  : Inserted by the Central Goods and Services Tax (Second Amendment) Rules, 2017, w.e.f. 1-7-2017.)

Conditions and restrictions in respect of inputs and capital goods sent to the job worker

45. (1) The inputs, semi-finished goods or capital goods shall be sent to the job worker under the cover of a challan issued by the principal, including where such goods are sent directly to a job-worker.

(2) The challan issued by the principal to the job worker shall contain the details specified in rule 55.

(3) The details of challans in respect of goods dispatched to a job worker or received from a job worker or sent from one job worker to another during a quarter shall be included in FORM GST ITC-04 furnished for that period on or before the twenty-fifth day of the month succeeding the said quarter[ Note ].

(4) Where the inputs or capital goods are not returned to the principal within the time stipulated in section 143, it shall be deemed that such inputs or capital goods had been supplied by the principal to the 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 the principal shall be liable to pay the tax along with applicable interest.

Explanation.—For the purposes of this Chapter,—

(1) the expressions “capital goods” shall include “plant and machinery” as defined in the Explanation to section 17;

(2) for determining the value of an exempt supply as referred to in sub-section (3) of section 17

(a)the value of land and building shall be taken as the same as adopted for the purpose of paying stamp duty; and
(b)the value of security shall be taken as one per cent of the sale value of such security.

Note

  1. Seeks to extend the due date for submission of details in FORM GST-ITC-04 vide Notification No 53/2017 Central Tax Dated 28th October, 2017
  2. Seeks to extend the due date for submission of details in FORM GST-ITC-04 for quarter July to September,
    2017 vide Notification No 63/2017 Central Tax Dated 15th November, 2017

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