Tax treatment on petroleum products

[VIGNESH]

sir. kindly clarrify. Query on Petrol bunk business- 1. dealer get petrol from Bharath petroleum and he makes sale and realise profit- is it taxable under VAT 2. commission received from Barath petroleum on sales of petrol - taxable or not?

AI Summary

Clarification on VAT and GST: Petrol sale profits taxable under VAT; commission on non-GST goods like petrol not taxable under GST. A query was raised regarding the tax treatment of petroleum products in the context of a petrol station business. The question focused on whether the profit from selling petrol obtained from a supplier is taxable under VAT and whether the commission received from the supplier is taxable. The response clarified that the commission earned on non-GST goods, such as petrol, is not taxable under GST as it does not pertain to a taxable supply.