Input credit of LFR recovery

17631 views 18 replies
Can a authorised petrol pump dealer take input gst of license fee recovery charge by Petrol & diesel manufacturer in their Invoice whereas petrol & diesel supply is non gst items.

please reply.
Replies (18)

Input tax credit of LFR will not be available, as they are in relation to exempted goods under GST

What is license fee recovery.. is there any TDS for that

I have got LFR bill from iocl. is there any tds liaility.

 

TDS on License Fees may be deducted @ 10% u/s 194J.

Read more at: https://www.caclubindia.com/forum/income-tax-tds-on-lfr-paid-to-ioc-459874.asp

10% of tds will be deducted on License Fees.

Can we have to include details of LFR fees in GSTR3B under ineligible ITC others?

No,you cant show tax under ineligible section

thanks sir

then we have to file GSTR3B without LFR and ITC?
Yes,you have to file Gst Returns without LFR and ITC.

ok thanks sir

No where it define that LFR GST Input we can't take. If u think it related to exempted supply so the input may not taken ( composit supply concept ) than how Petrolium Companies are Charged GST on LFR if it related to exempted supply  ?? GST tax is charged at same rate as applicable on Principal Supply.  It should not be charged if related to composit supply otherwise a dealer can take ITC benift , I think so. Plz contine if I am wrong and how I wrong ???

https://www.petroleum.nic.in/sites/default/files/FAQs%20on%20GST.pdf

 

PLEASE GO THROUGH THIS SIR Q. NO. 32

 

i already read this sir. In this FAQ its relate to exempted supply only and petrolium products are not exempted, it covered under NON GST SUPPLY.  It may be my presumption that it is not required any reversal.  

Now lets suppose you have purchased a laptop for your pertol pump than do u think so that you have to reversal ITC on proptionate basis ?

A machinery repair bill raised by service provider do you think u have to reversal ITC on propotionated basis  ?


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details