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lakshman belide   13 August 2019

Recovery of sslf in hpcl invoice

In Diesel and Petrol Invoices(HPCL) we observed an amount (under 18% Slab) stating that ""Recovery of SSLF Credit "".

Do I Claim that GST Input in my 3B.

We are receiving the same in 2A also.

 



 7 Replies

Pankaj Rawat

Pankaj Rawat (GST Practitioner)     15 August 2019

In reference to FAQs on GST with specific reference to oil and gas sector , You cannot claim ITC
CA Arun Chhajer

CA Arun Chhajer (GST Faculty @ Ministry of MSME Govt of India)     15 August 2019

Your outward Supply is non taxable so you are not entitle to take the credit of input tax. 

Prachi Bansal

Prachi Bansal   18 April 2021

why can we not CLAIM ITC on gas and oil sector

SALIL MUKHERJEE

SALIL MUKHERJEE   14 September 2021

In Diesel and Petrol Invoices(HPCL) we observed an amount (under 18% Slab) stating that ""Recovery of SSLF Credit "".

IS THE ATTRACT TDS

 

Heet Shah

Heet Shah (Tax Consultant)     15 September 2021

Originally posted by : SALIL MUKHERJEE
In Diesel and Petrol Invoices(HPCL) we observed an amount (under 18% Slab) stating that ""Recovery of SSLF Credit "".

IS THE ATTRACT TDS

 

Yes hpcl being psu and tds would be deducted

Heet Shah

Heet Shah (Tax Consultant)     15 September 2021

Originally posted by : Prachi Bansal
why can we not CLAIM ITC on gas and oil sector

If your output is non taxable say electrcitu or something you shall not avail ITC

Heet Shah

Heet Shah (Tax Consultant)     15 September 2021

Originally posted by : lakshman belide
In Diesel and Petrol Invoices(HPCL) we observed an amount (under 18% Slab) stating that ""Recovery of SSLF Credit "".

Do I Claim that GST Input in my 3B.

We are receiving the same in 2A also.

 

You may claim ITC if the output of your product is taxable. 


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