News
GST relief for oil companies on outsourced work
- Date:
- October 27, 2018
- Source:
- Economic Times
In what could come as urgent relief for oil companies, revenue authorities have allowed refineries to pay GST only on value addition done by job workers against on the total valuation. Many oil refineries outsource some of the processes to job workers. These refineries provide the raw material to the job worker and a final product is then delivered. There were concerns that the tax aut…