Goods and Services Tax – 53/27/2018 – Dated:- 9-8-2018 – Circular No.53/27/2018-GST F.No.354/255/2018-TRU (Part-2) Government of India Ministry of Finance Department of Revenue (Tax Research Unit) ***** North Block, New Delhi Dated, 9th August, 2018 To Principal Chief Commissioners/Principal Directors General, Chief Commissioners/Directors General, Principal Commissioners/Commissioners, All under CBIC. Madam/Sir, Subject: Clarification regarding applicability of GST on the petroleum gases retained for the manufacture of petrochemical and chemical products – regarding. References have been received regarding the applicability of GST on the petroleum gases retained for the manufacture of petrochemical and chemical products during the course
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aterial is retained by these manufacturers (recipient of supply), and the remaining quantity is returned to the oil refineries. In this regard, an issue has arisen as to whether in this transaction GST would be leviable on the whole quantity of the principal raw materials supplied by the oil refinery or on the net quantity retained by the manufacturers of petrochemical and chemical products. 3. The GST Council in its 28th meeting held on 21.7.2018 discussed this issue and recommended for issuance of a general clarification for petroleum sector that in such transactions, GST will be payable by the refinery on the value of net quantity of petroleum gases retained for the manufacture of petrochemical and chemical products. 4. Accordingly, it i
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