Clarification regarding applicability of GST on the petroleum gases retained for the manufacture of petrochemical and chemical products.
12\/2018 Dated:- 13-8-2018 West Bengal SGST
GST – States
GOVERNMENT OF WEST BENGAL
\nDIRECTORATE OF COMMERCIAL TAXES
\n14, BELIAGHATA ROAD, KOLKATA-700015
\nTRADE CIRCULAR No. 12\/2018
\nDATED: 13.08.2018
\nSubject: Clarification regarding applicability of GST on the petroleum gases retained for the manufacture of petrochemical and chemical products.
\nReferences have been received regarding the applicability of GST on the petroleum gases retained for the manufacture of petrochemical and chemical products during the course of continuous supply such as Methyl Ethyl Ketone (MEK) feedstock, petroleum gases e<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n 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. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Clarification regarding applicability of GST on the petroleum gases retained for the manufacture of petrochemical and chemical products.12\/2018 Dated:- 13-8-2018 West Bengal SGSTGST – StatesGOVERNMENT OF WEST BENGAL DIRECTORATE OF COMMERCIAL TAXES 14, BELIAGHATA ROAD, KOLKATA-700015 TRADE CIRCULAR No. 12\/2018 DATED: 13.08.2018 Subject: Clarification regarding applicability of GST on the petroleum gases retained for the … Continue reading “Clarification regarding applicability of GST on the petroleum gases retained for the manufacture of petrochemical and chemical products.”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-13290","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/13290","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13290"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/13290\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\n3. 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 gas retained for the manufacture of petrochemical and chemical products.
\n4. Accordingly, it is hereby clarified that, in the aforesaid cases, GST will<\/p>\n
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