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itc on gst levied by bank charges

chetan (student) (23 Points)

03 August 2017

whether an electricity distribution company can claim itc from gst levied on bank charges by its bankers

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3 Replies

Gireesh Kumar Gurappa (12 Points)
Replied 03 August 2017

if it is related to furtherance to your business. you can avail.

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chetan (student) (23 Points)
Replied 03 August 2017

what is meant for furtherance of business

Gireesh Kumar Gurappa (12 Points)
Replied 03 August 2017

Every registered person shall, subject to such conditions and restrictions as may be prescribed and in the manner specified in Section 49, be entitled to take credit of input tax charged on any supply of goods or services or both to him which are used or intended to be used in the course or furtherance of his business and the said amount shall be credited to the electronic credit ledger of such person.