GST on cash back from bank for using POS machine
This query is : Resolved
Quick Summary
15 December 2020
Our client has received Rs. 20 lacs from Bank towards swiping charges(cash Back) during the year. Please advise, whether GST is applicable under RCM.
15 December 2020
Yes, in my opinion it is covered under RCM under BC/BF category
15 December 2020
WHO WILL PAY UNDER RCM ......
BANK OR CLIENT
BANK OR CLIENT
16 December 2020
Of course, the Bank will pay.
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