input tax credit -reg

[Guest]

Dear Sir

we are selling the Petroleum products like Diesel and Petrol, few of our customers are asking Input tax credit, we are informing Diesel is Exempted can't claim the Input Or Not

Please guide me in this issue

[SHIVKUMAR SHARMA]

Petrol &Diesel are Non GST Items & hence Question of ITC not arises.

[Ganeshan Kalyani]

Yes, credit is not eligible on petroleum products.

[YAGAY andSUN]

However, such goods can be sold against Form C.

AI Summary

Input Tax Credit Not Claimable on Diesel and Petrol Under GST; Petroleum Products Sold Against Form C Discussed A query was raised regarding the eligibility of input tax credit (ITC) for petroleum products like diesel and petrol under the Goods and Services Tax (GST). The consensus among respondents was that ITC cannot be claimed on these products as they are non-GST items. One respondent mentioned that while ITC is not applicable, these goods can still be sold against Form C. The discussion aimed to clarify the tax treatment of petroleum products for businesses selling them.