(1) The principal shall, subject to such conditions and restrictions as may be prescribed, be allowed input tax credit on inputs sent to a job worker for job work.
(2) Notwithstanding anything contained in clause (b) of sub-section (2) of section 16, the principal shall be entitled to take credit of input tax on inputs even if the inputs are directly sent to a job worker for job work without being first brought to his place of business.
(3) Where the inputs sent for job work are not received back by the principal after completion of job work or otherwise or are not supplied from the place of business of the job worker in accordance with clause (a) or clause (b) of sub-section (1) of section 143 within one year of being sent out, it shall be deemed that such inputs had been supplied by the principal to the job worker on the day when the said inputs were sent out:
Provided that where the inputs are sent directly to a job worker, the period of one year shall be counted from the date of receipt of inputs by the job worker
(4) The principal shall, subject to such conditions and restrictions as may be prescribed, be allowed input tax credit on capital goods sent to a job worker for job work.
(5) Notwithstanding anything contained in clause (b) of sub-section (2) of section 16, the principal shall be entitled to take credit of input tax on capital goods even if the capital goods are directly sent to a job worker for job work without being first brought to his place of business.
(6) Where the capital goods sent for job work are not received back by the principal within a period of three years of being sent out, it shall be deemed that such capital goods had been supplied by the principal to the job worker on the day when the said capital goods were sent out:
Provided that where the capital goods are sent directly to a job worker, the period of three years shall be counted from the date of receipt of capital goods by the job worker.
(7) Nothing contained in sub-section (3) or sub-section (6) shall apply to moulds and dies, jigs and fixtures, or tools sent out to a job worker for job work.
Explanation.- For the purpose of this section, "principal" means the person referred to in section 143.
Chapter I Preliminary
Section 1 : Short Title, Extent and Commencement
Chapter II Administration
Section 3 : Officers under this Act
Section 4 : Appointment of Officers
Section 5 : Powers of Officers
Chapter III Levy and Collection of Tax
Section 8 : Tax liability on composite and mixed supplies
Section 9 : Levy and Collection
Section 11 : Power to Grant Exemption from Tax
Chapter IV Time and Value of Supply
Section 12 : Time of supply of Goods
Section 13 : Time of supply of services
Section 14 : Change in tax in respect of supply of goods or services
Section 15 : Value of Taxable Supply
Chapter V Input Tax Credit
Section 16 : Eligibility and Conditions for taking input tax credit
Section 17 : Apportionment of credit and blocked credit
Section 18 : Availability of credit in special circumstances
Section 19 : Taking input tax credit in respect of inputs and capital goods sent for job work
Section 20 : Manner of distribution of credit by input service distributor
Section 21 : Manner of recovery of credit distributed in excess
Chapter VI Registration
Section 22 : Person liable for registration
Section 23 : Person not liable for registration
Section 24 : Compulsory Registration in certain cases
Section 25 : Procedure for Registration
Section 26 : Deemed Registration
Section 27 : Special provisions relating to casual taxable person and non-resident taxable person
Section 28 : Amendment of Registration
Section 29 : Cancellation of Registration
Section 30 : Revocation of Cancellation of Registration
Chapter VII Tax Invoice, Credit and Debit Notes
Section 32 : Prohibition of unauthorized collection of tax
Section 33 : Amount of tax to be indicated in invoice and other documents
Section 34: Credit and Debit Notes
Chapter VIII Accounts and Records
Section 35 : Accounts and Other Records
Section 36 : Period of Retention of Accounts
Chapter IX Returns
Section 37 : Furnishing Details of outwards supplies
Section 38 : Furnishing details of inwards supplies
Section 39 : Furnishing Returns
Section 41 : Claim of input tax credit and provisional acceptance thereof
Section 42 : Matching, reversal and reclaim of input tax credit
Section 43 : Matching, reversal and reclaim of reduction in output tax liability
Section 46 : Notice to return defaulters
Section 48 : Goods and Services Tax Practitioners
Chapter X Payment of Tax
Section 49 : Payment of Tax, Interest, Penalty and other Amounts
Section 50 : Interest on delayed payment of tax
Section 51 : Tax Deduction at Source
Section 52 : Collection of Tax at Source
Section 53 : Transfer of Input Tax Credit
3%, 5%, 18% GST items 26.7.2018
18% GST notification 10.11.2017
0%, 5%, 12% reduced on 10.11.17
IGST Rates reduced on 10.11.2017
3% & 0.25% GST Goods (Original)
18% GST Materials (Original List)
Compensation Cess Rates (Original)