CIRCULAR NO. 53/27/2018-GST: PETROLEUM GASES RETAINED

The CBIC has issued a circular regarding the retention of petroleum gases under the GST regime.

The circular clarifies that petroleum gases such as LPG, propane, and butane will continue to be taxed under the GST.

The circular also states that the GST rate on these products will be 5% without any input tax credit (ITC).

The circular further explains that the GST rate on natural gas and other gases will be 18% with ITC.

The circular is in response to queries raised by the industry regarding the GST treatment of petroleum gases.

The circular provides clarity on the GST treatment of petroleum gases and will help the industry comply with the GST regulations.

The retention of petroleum gases under the GST regime will ensure that the government continues to earn revenue from these products.