ITC on forex conversion tax
Mahesh Ranga Overseas (3 Points)
08 November 2019
dear sirs, can we take ITC on GST forex conversion tax
2 Replies
Surjeet Negi
(947 Points)
Replied 08 November 2019
Banking services are in course and also for furtherance of business, as, the same is not specifically restricted under Section 17(5) of CGST Act,2017, therefore, ITC is available.
Our experts may correct me if mistaken
Our experts may correct me if mistaken
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 09 November 2019
Yes you can claim ITC , if it satisfied the condition prescribed in section 16 of CGST Act
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