What is the entry for bank charges for cheque returned Rs.140/- including GST ?
GST rates charged by Bank ?
Acct. Harsha (Accountant) (139 Points)
01 September 2017What is the entry for bank charges for cheque returned Rs.140/- including GST ?
GST rates charged by Bank ?
Abhishek
(Staff)
(34 Points)
Replied 01 September 2017
Bank Charges A/c Dr.
To Bank A/c
(Being bank charges incurred)
Because you are not able to get the input tax credit of GST as per GST Act, 2017.
CA Rashmi Gandhi
(Chartered Accountant)
(86285 Points)
Replied 01 September 2017
Murugesan
(Asst. Manager - Finance)
(180 Points)
Replied 02 September 2017
Pankaj Jakhar
(47 Points)
Replied 02 September 2017
CA Rashmi Gandhi
(Chartered Accountant)
(86285 Points)
Replied 02 September 2017
NAVNEET MANDOWARA
(Accounting & Investments)
(100 Points)
Replied 03 September 2017
Yes eligible but your GSTIN should be in records of your bank account statement.
CA Rashmi Gandhi
(Chartered Accountant)
(86285 Points)
Replied 03 September 2017
Yogesh
(Accountancy)
(258 Points)
Replied 03 September 2017
will the bank show in the bank statement
CA Rashmi Gandhi
(Chartered Accountant)
(86285 Points)
Replied 03 September 2017
NAVNEET MANDOWARA
(Accounting & Investments)
(100 Points)
Replied 03 September 2017
the bank is show your GSTIN on the bank statement, and it is eligible to take the ITC on bank charges. In addition if u have aproach the bank and get the details of bank charges from bank [if they were given] like bank charges+cgst+sgst then it is also eligible to take ITC
prasad
(EMPLOYEES)
(315 Points)
Replied 04 September 2017
NAVNEET MANDOWARA
(Accounting & Investments)
(100 Points)
Replied 04 September 2017
CAclubindia
