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reverse charge

Deepchand jain (HIRIYUR) (70 Points)

05 March 2018

can reverse charges applicable for bank charges for March 2018

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3 Replies

sujith kumar dasa (banglore) (1496 Points)
Replied 05 March 2018

Reverse charge is not applicable on bank charges since supplier is registered i.e., bank is registered and GST will be charged by bank itself

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Pankaj Goswami (CA-FINAL) (422 Points)
Replied 05 March 2018

No reverse charge will not be applicable

Manu Kumar Rana (New Updates ) (358 Points)
Replied 05 March 2018

Originally posted by : Deepchand jain
	can reverse charges applicable for bank charges for March 2018

HI Deepchand,

1. The bank is listed company & they must have GSTIN registered.wherever they are charging as bank change on your transcations monthly basis .that value is including of GST & u can claim ITC for this charges if that bank transactions must be pertained to business purpose.

2. In case bank might not be charged GST on bank charges then RCM is applicable on it under section -9(4) CGST Act but this section was postponed up to march 31.03.2018.