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GST INPUT ON BANK CHARGES

ravs kumar (12 Points)

13 July 2017

Let us know how would we claim GST input on bank charges? And how would we make entry in accounts

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10 Replies

CA Saloni (Manager-Accounts & GST Consultant) (5124 Points)
Replied 13 July 2017

You can claim ITC of GST on Bank charges. Ask for Bank's GSTIN no and bank will give you an invoice at the month end also.

2 Like

Vishal Agrawal (ADVOCATE) (59 Points)
Replied 13 July 2017

yes you are claim input credit of gst on bank charge

ravs kumar (12 Points)
Replied 19 July 2017

OkThanx

ravs kumar (12 Points)
Replied 19 July 2017

Need to know about GST input on cars purchased in the name of proprietor of proprietorship firm , Car is using in business purpose

R.S.SARAVANAN (CHARTERED ACCOUNTANT) (32 Points)
Replied 31 July 2017

U/S.17 of CGST act, input credit on motor vehicles will be allowed only when they are used for

a. Further supply of such vechle(Resale)

b. Transportation of passengers(like bus); or

c. Used for training of driving of such vechiles

d. used for transportation of goods(like lorry)

Based on above input credit is not allowed for car purchase.

shubham garg (2 Points)
Replied 02 September 2017

Bank charges for not maintaining of minimum Amount in his/her Account is not against any service provided by bank but it is like a penalty for not maintaining Minimum Amount in his/her Account then why should GST charge on this. GST charge on goods and Services not on penalties.