Sir
we imported goods under L C and sold them on high sea sale basis. can we avail itc on bank charges related to this particular L. C. please guide.
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itc on bank charges for L C
Replies (3)
Yes itc available
i think high sea sale tax free under GST, so ITC not available in this case.
Bank charges /commission on the LC amount is not claimable.
I think GST 18% levied by the bank on the "bank commision charges " can be claimed in input credit .
also Import duty+cess non refundable. IGST 18/28% levied by customs can be claimed as input (eiether by you or the final buyer/party who is import clearing customs )
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