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GST CREDIT ON BANK TRANSACTION

nitesh (ARTICLE) (201 Points)

14 June 2018

CAN WE TAKE GST CREDIT OF THE GST CHARGED BY BANK ON CONSOLIDATED CHARGES.

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3 Replies

Vinod Babu (24191 Points)
Replied 14 June 2018

Yes. You can take credit of gst charged by bank.
Give gstin number to bank and collect invoice with your co name and gstin number in it.

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krishna murthi (ACCOUNTANT) (80 Points)
Replied 14 June 2018

where should we check it. GSTR 2A don't show this credit

CA Padmasri Manyam (CA in Practice) (1340 Points)
Replied 14 June 2018

Once the bank upload the details in their GSTR-1 you will be able see in your GSTR-2A. Few banks are not uploading the invoice level details in GSTR-1.

You can take credit based on the consolidated tax invoice issued by the Bank, provided the invoice contains the GSTIN of your company and GSTIN of the Bank.