Gst on foreign bank charges


(Querist)
15 May 2019
In case of supply to customer outside India by XYZ, if invoice value is 100$, the foreign bank is transferring to XYZ,India's bank in India only 98$ after deducting their bank charges of 2$. Is XYZ required to pay GST under reverse charge on the bank charges deducted by the foreign bank?


CA R SEETHARAMAN (Expert)


Click to Talk 16 May 2019
Yes, reverse charge applicable on this bank charge.


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