Fuel Related ITC claim
Fuel furnace oil and LNG Gas ITC can claim or not by a food company
Replies (1)
You can claim Input Tax Credit (ITC) on furnace oil because it is a taxable good under GST. However, you cannot claim ITC on LNG (Natural Gas) because it is currently kept outside the GST framework, meaning no GST is paid on its procurement to claim as credit.
Recent Topics :
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
- GST RATE ON FILM PRODUCTION
- Section 54
Related Topics :
CAclubindia
