sir
its petrol pump (trading petrol,diesel& oil) oil only taxable item.
(proprietor concern ) now install solar energy at petrol bunk invoice raised on business name.
its eligible for Input tax??on GST
YES eligible
Gopi (Staff) (56 Points)
25 January 2019
CA Akshay Hiregange
(Partner - Audit & Assistance)
(4515 Points)
Replied 25 January 2019
Proportionate ITC reversal under Section 17(2) r/w Section 2(49) as per manner prescribed under Rule 42/43.
17(2) requires ITC reversal on exempt supply.
2(49) exempt supply includes non-taxable supply. 9(2) provides for non-levy of GST on petrol, diesel.
Rule 42/43 - manner for reversal of ITC.
Raj Chitroda
(Accounts)
(325 Points)
Replied 25 January 2019
CA Akshay Hiregange Sir answer is proper n correct..
Sanjiv Rajpoot
(3430 Points)
Replied 26 January 2019
CAclubindia
