Whether operating a petrol pump will be taxable
This query is : Resolved
26 January 2021
Sir, my client is primarily a gta service provider in Maharashtra, whereas he is also running a petrol pump owned by a third person in Goa. Further, as per agreement for running the petrol pump my client is entitled for all profits from the operation of the petrol pump after incurring all expenses. Further, my client will pay ownership fee to the owner of the petrol pump as per the agreement. Furthermore, my client is making payment for ownership fee is under section 194ib,
My question is, whether the profit earned as per the agreement will be taxable for gst and if, yes, than which SAC will apply.
My question is, whether the profit earned as per the agreement will be taxable for gst and if, yes, than which SAC will apply.
CA R SEETHARAMAN
(Expert)
27 January 2021
GST not applicable on profit earned but GST applicable on ownership payment subject to threshold.
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