Input Tax Credit - evaporation/handling losses of the petroleum ...

Case Laws VAT and Sales Tax

March 19, 2022

Input Tax Credit - evaporation/handling losses of the petroleum products - There would be no ITC for tax paid on the goods specified in Schedule E when used or disposed of in the circumstances mentioned against those goods. The circumstances mentioned in Schedule E against petroleum products and natural gas are that when used as fuel or exported out of the State. Entry 5 of schedule E is not dealing with the items mentioned at Entries 1 and 2. In other words, circumstances mentioned against Entry 5 are not applicable to petroleum products and natural gas. - HC

View Source

← Previous Next →

Input Tax Credit - evaporation/handling losses of the petroleum ...

Case Laws VAT and Sales Tax

March 19, 2022

You may also like:

Input Tax Credit - Reversal / refunding of ITC - the Integrated Goods and Service Tax (IGST) was not paid and ‘NIL’ return had been filed by the seller but the...

Reversal of Input Tax Credit (ITC) on furnace oil and LSHS oil - the furnace oil was used in the process of manufacturing of the final product and it has to be treated...

Input tax credit of GST paid - The applicant is not eligible for availment of input tax credit of GST paid on goods and services for laying of transfer pipeline and the...

Refund claim - Once the input credit is legally taken and utilized on the dutiable final product, it need not be reversed on the final product being exempted...

Input Tax Credit - Tax paid on cost proposed to be incurred - According to the provisions of Sec. 17(5) read with the explanation to it, credit of civil structure is...

Reversal of Input Tax credit / ITC - financial credit note is issued for part amount of invoice - the financial credit note shall not be used as a conduit to transfer...

Advance Ruling application on maintainability - Reversal of input tax credit to extent of tax element in credit note - no agreement between parties on credit notes not...

This is a summary of a court judgment regarding the interpretation of Rule 86A of the Central Goods and Services Tax (CGST) Rules, which deals with the blocking of input...

Input Tax Credit - solar power panels procured and installed - blocked credit- When Electricity energy manufactured using the Solar Panels were supplied to TANGEDCO...

Cenvat credit - Once the credit is availed, the use of such credit is governed by Rule 3 of the Cenvat Credit Rules, 2004. Sub-Rule (4) of the said Rule stipulates that...

Belated claim of Input Tax Credit (ITC) - purchase of Petroleum product - GSTN had not provided the facility of GSTR-2 till now. - The respondents shall permit the...

Input Tax Credit - Inputs - Promotional Products/Materials & Marketing items used by the Appellant in promoting their brand & marketing their products - The goods...

Input Tax Credit (ITC) - National Dairy Development Board (NDDB) can be considered as financial institution for the purpose of availing credit to the extent of fifty...

Scope of Advance Ruling application - Input Tax Credit - When the applicant is sure as is evident in the application that tax has not been paid in cash or has been paid...

Input Tax Credit (ITC) - Period of limitation u/s 16(4) - After the decision of Supreme Court in the case of Northern Opertaing Systems, the Petitioner discharged IGST...

Quick Updates: