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GST on cash back from bank for using POS machine

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(Querist)
15 December 2020 Our client has received Rs. 20 lacs from Bank towards swiping charges(cash Back) during the year. Please advise, whether GST is applicable under RCM.
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Lekhraj sood

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Lekhraj sood (Expert)
15 December 2020 Yes, in my opinion it is covered under RCM under BC/BF category
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Gokul Sharma

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Gokul Sharma (Expert)
15 December 2020 WHO WILL PAY UNDER RCM ......
BANK OR CLIENT
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Lekhraj sood

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Lekhraj sood (Expert)
16 December 2020 Of course, the Bank will pay.

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