A petroleum dealer has leased land to iocl and receives rent alongwith gst. The same dealer pays gst on rent charged by iocl for the dispensing units, tank etc. provided by iocl.
Query1 Can gst paid on rent of tank, dispensing units be claimed as itc?
Query 2 Can gst received on land rent be set off against gst paid on tank, dispensing units rent?
6 Replies
SACHIN CHAVAN
(2 Points)
Replied 23 August 2021
Please check your agreement with iocl as tank and dispensing unit is part and parcel service which required by iocl, as per opinion yes you can claim the input
CA Altamush Zafar
(GST Consultant)
(15971 Points)
Replied 23 August 2021
Query 1 : ITC not available
Query 2: Since itc not available therefore adjustment also not possible
Query 2: Since itc not available therefore adjustment also not possible
vibha trivedi
(16 Points)
Replied 23 August 2021
@ CA Altamush Zafar can u please explain with reasons why itc not available in the given case
CA Altamush Zafar
(GST Consultant)
(15971 Points)
Replied 23 August 2021
Because dispensing units, tanks are not used for providing taxable supply.
CA Altamush Zafar
(GST Consultant)
(15971 Points)
Replied 23 August 2021
You are welcome ...........
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