ITC on Bank charges
Razaq Sha (26 Points)
23 June 2018
should we take ITC on bank charges whether it is applicable under Gst act ....?
8 Replies
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 23 June 2018
Yes , you can ,.. but ask bank for Tax Invoice for the same
Razaq Sha
(26 Points)
Replied 23 June 2018
at the end of every month we should ask tax invoice from a bank
Vinod Babu
(24191 Points)
Replied 24 June 2018
If bank issue GST invoice bearing your GSTIN number and company name, then you can claim ITC.
SANDHYA SHINGTE
(PARTNER)
(57 Points)
Replied 24 June 2018
If we dont want to avail ITC on bank charges as those are very small amounts then where to be mentioned bank charges amount in GSTR 3B Bank charges is inclusive of GST amt . It is inward supply from RD.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 24 June 2018
Yea U Can do so, you can ineligible the ITC by showing it in 3B :
show it under Table 4 , row 5 all other ITC
& In Row Row B (2) ITC reverse ,Others
show it under Table 4 , row 5 all other ITC
& In Row Row B (2) ITC reverse ,Others
Shanu
(Accounts)
(30 Points)
Replied 26 June 2018
Bank is not issuing the tax invoice for bank charges as the amount is very small, can we take input credit now.
Vinod Babu
(24191 Points)
Replied 26 June 2018
Not possible to take itc when tax invoice not received by bank.
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