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ITC ON BANK CHARGES

Priyokumar Thounaojam (148 Points)

28 September 2017

will bank provide tax invoice

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7 Replies

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 28 September 2017

No....
They can't give Tax invoices. But, We can use the utr/ref number as well as our documents and Statement....

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(Guest)

Sir in an import transaction bank collects gst for currency conversion service. How should it be shown in books of accounts?

Sanket Morbiya (AC.) (91 Points)
Replied 28 September 2017

For exact amount of bank charges and for exact gst amount of 18% on bank charges u have to contact bank

And bank statement is valid document for claim itc of gst on bank charges

(note - Still any query whatsapp me on 9869694292
Plz don't call)

(Guest)

Bank has not collected any bank chrg only gst for that service is collected by bank.

Sanket Morbiya (AC.) (91 Points)
Replied 28 September 2017

Not possible... Verify once again without give you services how bank charge u gst... Ask your bank first and check bank statement again..

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Govind (Accountant) (23 Points)
Replied 18 January 2018

This happening on INW charges. The Bank debit only GST amount in Bank Statement.

Shankar Sharma (510 Points)
Replied 18 January 2018

All bank charges and gst are appearing in my GSTR2 A and I am availing ITC. Of course it's available in the bank statement also. And for foreign exchange remittance the bank issues a remittance advice /statement showing all details including service charges.