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GST ON ITC of petroleum products

13 June 2017

hi experts...we are all know petroleum products are out of purview of gst,my question is petroleum companies are pay some input tax like works contracts,man power,house keeping like...they charge cgst,sgst etc...petroleum companies paid..these are getting itc or not

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2 Replies

Preeti (Team_GSTSoln) (Team GST Experts) (1926 Points)
Replied 13 June 2017

no pradeep, till they donot get registered under GST, there is a total loss of itc to them. may be govt come out with a scheme of accummuulated itc availment on their registration being done

further they cant take itc on listed 5 petro products only. rest of the service if they are providing , then have to get register for gst'

& then propotional itc they can claim .

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Sri Charan (Business) (26 Points)
Replied 08 October 2017

Hi, There are petrol bunks who also deal in other petroleum products like lubricant oils, engine oils where gst is applicable. So, if they are registered under Gst for this purpose, while filing return, are they required to mention petrol and diesel sales or only to the extent of these items?