LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

ITC doubt in petrol bunk

14 July 2018

In petrol bunk (License holding fees) is paid by petrol bunk dealer to oil corporation in which ITC availed which may adjust against motor oil sales output due ?

Reply
Follow
Share

5 Replies

CA Shivam Arora (Chartered Accountant) (2414 Points)
Replied 14 July 2018

No you cannot take ITC on licence fees since the licence fees is for sale of petrol or diesel which are non-gst supply.

You can use ITC on purchase of lubricants fully to pay GST on sale of lubricants.

1 Like

Vinod Babu (24191 Points)
Replied 15 July 2018

Yes, agreed with CA Shivam Arora sir.
Petroleum products are not gst supply.

1 Like

Dinesh Khandelwal (4 Points)
Replied 05 March 2019

LFR on Petrol Diesel is business expenses like insurance etc. The LFR invoices being raised by the Oil Marketing Companies are being uploaded in GSTR2A. If the ITC on LFR could not be availed by the dealer there was no need to upload the invoices.