https://www.taxtmi.com/highlights?id=62506 Input Tax Credit - evaporation/handling losses of the petroleum products - There would be no ITC for tax paid on the goods specified in Schedule E when used or disposed of in the circumstances mentioned against those goods. The circumstances mentioned in Schedule E against petroleum products and natural gas are that when used as fuel or exported out of the State. Entry 5 of schedule E is not dealing with the items mentioned at Entries 1 and 2. In other words, circumstances mentioned against Entry 5 are not applicable to petroleum products and natural gas. - HC en-us Sat, 19 Mar 2022 07:35:30 +0530 Sat, 19 Mar 2022 07:35:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=62506 Input Tax Credit - evaporation/handling losses of the petroleum products - There would be no ITC for tax paid on the goods specified in Schedule E when used or disposed of in the circumstances mentioned against those goods. The circumstances mentioned in Schedule E against petroleum products and natural gas are that when used as fuel or exported out of the State. Entry 5 of schedule E is not dealing with the items mentioned at Entries 1 and 2. In other words, circumstances mentioned against Entry 5 are not applicable to petroleum products and natural gas. - HC Highlights VAT and Sales Tax Sat, 19 Mar 2022 07:35:30 +0530 https://www.taxtmi.com/highlights?id=62506