Excise on petroleum products - impact on gst?

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25 Points Posted on 11 August 2016

Hi All

I have one Q on GST.

Petroleum is kept out of GST, which means it will continue to attract excise duty. So, 

1) can the excise paid on it be set-off against GST liability?

2) Do the companies still have to maintain excise records like RG23 registers?

Would you have an idea around it?

Thanks for your time!!

Ajay Maheshwari

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On 11 August 2016 at 11:48 Report
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cto
26 Points Posted on 15 August 2016
yes excise duty is calculated on petroleum and sold. it will be same as in VAT regime, petroleum is out of vat. but sales tax is levied by states
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On 15 August 2016 at 21:53

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