Input credit on purchase of diesel
This query is : Resolved
13 June 2013
Hi..
Can any one please tell me is Input Credit available on Purchase of Diesel by a contractor for the purpose of operation of machines? but as we all know that purchase invoices received from diesel provider, do not show the amount of VAT separately.
Can any one please tell me is Input Credit available on Purchase of Diesel by a contractor for the purpose of operation of machines? but as we all know that purchase invoices received from diesel provider, do not show the amount of VAT separately.
13 June 2013
NO CREDIT AVILABLE ON FUELS
13 June 2013
Thank you for your reply sir.
but as per rule 53 "Reduction in set-off" of MVAT Act, 2002,
(1) If the claimant dealer has used any taxable goods as fuel, then an amount equal to 1[three per cent] of the corresponding purchase price shall be reduced from the amount of set-off otherwise available in respect of the said purchase.
but as per rule 53 "Reduction in set-off" of MVAT Act, 2002,
(1) If the claimant dealer has used any taxable goods as fuel, then an amount equal to 1[three per cent] of the corresponding purchase price shall be reduced from the amount of set-off otherwise available in respect of the said purchase.
Message likes :
1 times
13 June 2013
Answer is “No” you can not avail the Input credit on diesel (HSD) or petrol . As per input definition of central excise given below.
input" means all goods, except high speed diesel oil and motor spirit, commonly known as petrol, used in or in relation to the manufacture of final products whether directly or indirectly and whether contained in the final product or not, and includes lubricating oils, greases, cutting oils, coolants, accessories of the final products cleared along with the final product, goods used as paint, or as packing material, or as fuel, or for generation of electricity or steam used for manufacture of final products or for any other purpose, within the factory of production.
Explanation 1.- The high speed diesel oil or motor spirit, commonly known as petrol, shall not be treated as an input for any purpose whatsoever.
Explanation 2.- Inputs include goods used in the manufacture of capital goods which are further used in the factory of the manufacturer;
input" means all goods, except high speed diesel oil and motor spirit, commonly known as petrol, used in or in relation to the manufacture of final products whether directly or indirectly and whether contained in the final product or not, and includes lubricating oils, greases, cutting oils, coolants, accessories of the final products cleared along with the final product, goods used as paint, or as packing material, or as fuel, or for generation of electricity or steam used for manufacture of final products or for any other purpose, within the factory of production.
Explanation 1.- The high speed diesel oil or motor spirit, commonly known as petrol, shall not be treated as an input for any purpose whatsoever.
Explanation 2.- Inputs include goods used in the manufacture of capital goods which are further used in the factory of the manufacturer;
Message likes :
1 times
13 June 2013
Thank you for your reply m'am.
But i am concerned with Maharashtra Value Added Tax. And, i was guided by the department of "Acts & Rules" of the mumbai Sales Tax office that we can take the input credit on purchase of diesel used for the purpose of operation.
But i am concerned with Maharashtra Value Added Tax. And, i was guided by the department of "Acts & Rules" of the mumbai Sales Tax office that we can take the input credit on purchase of diesel used for the purpose of operation.
15 June 2013
it is not possible
fuel are not calimable
can you take calim on Petrol?
fuel are not calimable
can you take calim on Petrol?
17 June 2013
why it is not possible? where it is written in the MVAT Act?
and logically thinking why it is not possible as this comprises one of the significant amount of Purchase for contractors. so after retention of 3% it is allowed. The law says.
Kindly go through Rule 53 of MVAT Act.
and logically thinking why it is not possible as this comprises one of the significant amount of Purchase for contractors. so after retention of 3% it is allowed. The law says.
Kindly go through Rule 53 of MVAT Act.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- ITR-3 File/Error Found
- ASMT-10 received from A O
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- Average Cost Of High Quality Diamonds
- Due Date Clarity
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
