GST on LFR ( License Fee Recovery) is collected on Petrol (MS) & Diesel (HSD) eligible for ITC or Not.
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GST on LFR on Petrol & Diesel
Replies (3)
Yes it is eligible
No can't take itc because outward supply is non taxable supply hence not eligible itc and if it's outward supply non taxable supply and taxable then fully itc at end of year reverse itc to extent of non taxable proportion as per 42 rule n 43
Right chethan Sir
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