GST will be payable by the Refinery on Net Quantity of Polybutylene Feedstock and LPG retained by Manufacturer: CBEC [Read Circular]
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The Central Government, while clarifying the issue on applicability of GST on Polybutylene feedstock and Liquefied Petroleum Gas (LPG) retained for the manufacture of Poly Iso Butylene and Propylene or Di-butyl para Cresol. The GST Council in its 25th meeting held on 18.1.2018 has recommended for issuance of a clarification stating that in such transactions, GST will be payable by the...
The Central Government, while clarifying the issue on applicability of GST on Polybutylene feedstock and Liquefied Petroleum Gas (LPG) retained for the manufacture of Poly Iso Butylene and Propylene or Di-butyl para Cresol.
The GST Council in its 25th meeting held on 18.1.2018 has recommended for issuance of a clarification stating that in such transactions, GST will be payable by the refinery on the value of net quantity of polybutylene feedstock and liquefied petroleum gas retained for the manufacture of Poly Iso Butylene and Propylene or Di-butyl Para Cresol.
The circular issued on Thursday clarified that, in the aforesaid cases, GST will be payable by the refinery only on the net quantity of Polybutylene feedstock and Liquefied Petroleum Gas retained by the manufacturer for the manufacture of Poly Iso Butylene and Propylene or Di-butyl para Cresol. Though, the refinery would be liable to pay GST on such returned quantity of Polybutylene feedstock and Liquefied Petroleum Gas, when the same is supplied by it to any other person.
To Read the full text of the Circular CLICK HERE