Oil companies are charging LFR charges by Tax Invoice with CGST & SGST, can we show the tax details in GSTR 3B. please clarify me.
Dear Mr Rama.
Section 16 of CGST Act disallows input tax credit on goods and services not intended to be used “in the course of business” or “for furtherance of business”.
Furthermore, in your case if oil is use in Machinery of company or further supply of oil as business, than you can avail ITC on it. else no ITC shall be available
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