We are doing the labour charges/Job work (Machining & Assembly) for Mahindra company.
Everyday we have received many types (near abour 58 types) of material from their (on 57 f4).
When we dispatched material to them, we not attached annexure VI (Subsidiry Challans), but we closed all 57 f4 day to day and submitt its every months to mahindra.
Is annexure VI compulsary with bills of material or not compulsary ? what is importance of that. if we are not sending annexure VI can i applicabe for any panalty?
10 October 2009
No. There is no prescribed procedure as how the material is sent for job work or returned. 57F4 chalanns are of earlier repealed rules, which is being used merely for the sake of convenience and has no legal sanctity attached to it. You are entitled to develop your own challan/record for return of material and keeping account for that.
CAclubindia
