Dear Friends,
We are receiving GST Invoices from our Banks against Foreign Remittance. Can we take ITC claims for the same ?...
6 Replies
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 16 June 2020
Yes offcourse the ITC is available.
(As per Section 16 of CGST it's being used course of business)
(As per Section 16 of CGST it's being used course of business)
Mohanraj J
(1178 Points)
Replied 17 June 2020
Thanks a lot to all. Anyone can share me the link for downloading ineligible ITC.
paleti diwakar
(44 Points)
Replied 17 June 2020
Refer section 17 (5) of cgst act for list of inelgible credits under gst
Shivam RC
(Student)
(23683 Points)
Replied 17 June 2020
Yes you can claim GST ITC on Bank Charges provided it is in the course or furtherance of business ( Section 16(1) of the CGST Act 2017 ).
You can refer the CBIC website to download the Bare GST Act ( where you will find the latest list of BLOCKED CREDIT/INELIGIBLE CREDIT u/s 17(5) ).
You can refer the CBIC website to download the Bare GST Act ( where you will find the latest list of BLOCKED CREDIT/INELIGIBLE CREDIT u/s 17(5) ).
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