TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>GST Clarification: Tax on Petroleum Gases Applies Only to Net Quantity Retained by Manufacturers, Not Entire Supply.</h1> The circular clarifies the applicability of GST on petroleum gases retained for manufacturing petrochemical and chemical products. It addresses whether GST should be levied on the entire quantity supplied by oil refineries or only on the net quantity retained by manufacturers. The GST Council decided that GST should be payable by the refinery on the net quantity retained by the recipient manufacturer. The refinery must also pay GST on the returned quantity when supplied to another party. This clarification applies to similar supply transactions where feedstock is retained and residual material is returned. Past issues will be addressed according to the prevailing law at the time.
TaxTMI 
TaxTMI 
