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Bank charges apply in GST. can we reverse charge in BANK charges GST
Replies (14)
Bank will charge GST on bank charges and it will be reflected in your bank statement...
It is same as earlier banks were charging Service tax, now its GST...
some banks are not charging GST on bank charges amount below Rs. 10. do I need to pay GST under RCM?
No, since you have received services from regd person, you need not pay under RCM...
thanks a lot!
My pleasure...
I know that service tax move to GST but can get GST amount as reverse charge method
@ CASaloni can you also highlight whether I'll be liable to pay GST on RCM if I'm paying rent to an unregistered person.
House Rent for Residence Purpose is Exempt, But in case of Business Use it is Taxable under Reverse Charges
| Originally posted by : CA Saloni | ||
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No, since you have received services from regd person, you need not pay under RCM... |  |
Please Clearify..... if we are receiving Services with registered Transporter then.....
registered transporter has to give you a bill mentioning GST on RCM @ 5% or under forward charge @ 12%
| Originally posted by : partha | ||
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I know that service tax move to GST but can get GST amount as reverse charge method | |
Ques not clear...
| Originally posted by : Shivendu Agarwal | ||
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@ CASaloni can you also highlight whether I'll be liable to pay GST on RCM if I'm paying rent to an unregistered person. | |
Yes you need to pay GST under RCM if paying rent to URD
thanks again! 😀
In case bank reverses the bank charges then whether GST on that charges will also be required to be reversed or not. Plz tell, since in my case they didn't reverse gst.
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