CGST Rule 119: Declaration of Stock held by a Principal and Job Worker

Provisions under Rule 119 of CGST Rules, 2017 relating to “Declaration of Stock held by a Principal and Job Worker”:

CGST Rule 119: Declaration of Stock held by a Principal and Job Worker (Chapter XIV: Transitional Provisions) [*1&2]

Every person to whom the provisions of section 141 apply shall, within the period specified in rule 117 or such further period as extended by the Commissioner [*3], submit a declaration electronically in FORM GST TRAN 1, specifying therein, the stock of the inputs, semi-finished goods or finished goods, as applicable, held by him on the appointed day.

Notes (History of Amendments in Bare Text):

1. CGST Rule 119 introduced vide Notification 10/2017, effective 01/07/2017.

2. The text in the heading “agent” substituted with the text “job-worker” from 01/07/2017 vide Notification 15/2017.

3. The text “ninety days of the appointed day” substituted with the text “the period specified in rule 117 or such further period as extended by the Commissioner” from 29/09/2017 vide Notification 36/2017.