K Giribabu Naik (Accounts Manager) (32 Points)
06 November 2021
CA Altamush Zafar
(GST Consultant)
(15986 Points)
Replied 06 November 2021
They will show their sales of petroleum products as sale of non GST supplies.
CA Altamush Zafar
(GST Consultant)
(15986 Points)
Replied 06 November 2021
No eligibility of itc if supply is if exempt or non gst goods or services.
Where taxable supplies are also made then itc if identifiable with taxable supply can be taken.
If there are common itc then proportionate itc will be taken.
JAGJIT KASHYAP
(TAX CONSULTANT)
(109 Points)
Replied 06 November 2021
Is GST applicable on Petroleum Product like Petrol or Diesel.
CA Altamush Zafar
(GST Consultant)
(15986 Points)
Replied 06 November 2021
Petrol & Diesel are outside the scope of GST. Therefore there is no GST on petrol & diesel.
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 07 November 2021
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