[amp_mcq option1=”One year” option2=”Three years” option3=”Six months” option4=”Five years” correct=”option1″]<\/p>\n
The correct answer is: A. One year<\/strong><\/p>\n The time limit beyond which if goods are not returned, the input sent for job work shall be treated as supply is one year. This is according to Section 17(3) of the Central Goods and Services Tax Act, 2017.<\/p>\n Section 17(3) states that “Where any goods sent for job work are not returned to the principal within a period of one year from the date of sending such goods for job work, the value of such goods shall be deemed to be the value of supply of such goods by the principal to the job worker.”<\/p>\n This means that if goods are sent for job work and are not returned within one year, the principal will be liable to pay GST on the value of the goods. The job worker will also be liable to pay GST on the value of the services provided.<\/p>\n There are a few exceptions to this rule. For example, if the goods are lost or destroyed due to circumstances beyond the control of the principal or the job worker, the principal will not be liable to pay GST.<\/p>\n If you have any further questions, please do not hesitate to ask.<\/p>\n","protected":false},"excerpt":{"rendered":" [amp_mcq option1=”One year” option2=”Three years” option3=”Six months” option4=”Five years” correct=”option1″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[969],"tags":[],"class_list":["post-49474","post","type-post","status-publish","format-standard","hentry","category-gst","no-featured-image-padding"],"yoast_head":"\n