GST Invoice by HPCL

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John

Director

23 Points Posted on 11 December 2019

We are a dealer for HPCL

Every month the company creates GST Invoices under RD for Rs 8260 (inclusive of GST @ 18%)

Plus every month the company creates an additional GST Invoices under GP for variable amount (inclusive of GST @ 28%)

Whenever explanations are asked the answers are more confusing. Are we supposed to pay the GST amount. There is also

talk of paying 2% TDS. Can anyone explain the issue in simple terms, so that a taxpayer can understand the matter.

Replies (4)

CA VISHAL JAIN

Chartered Accountant

84 Points Posted on 11 December 2019

First please explain the model of your arrangment with HPCL so i can properly make you understand the reasons for all the things.
As far as TDS is concern as per the provision of Section 51 PSU are liable to deduct and pay the TDS. it will be credited in you cash ledger once the return is filed by HPCL.

John

Director

23 Points Posted on 11 December 2019

We have leased the land (property) to a relative, who in turn has entered into a sub-lease agreement with HPCL. The pump is in relative's name, but runs it on our behalf.

Deepak Mishra

24 Points Posted on 14 September 2021

RD INVOICE IN HPCL IS RELATED WITH LEASE RENT WHICH HPCL CHARGED FROM DEALER. SO YOU CAN CLAIM INPUT GST

CA. Heet Shah

Tax Consultant & Practitioner

5541 Points Posted on 15 September 2021

You can claim ITC for all the GST charged to you. Further tds @ 2% would apply for transaction with psu on amount exceeding rs. 2.5 lakh per transaction.

Tds would be available to you on the portal which u may claim for the tax payments on filing tds return under GST