set off on gst paid on bank charges

RanjitRajaramDhure (SR ACCOUNTANT) (50 Points)

11 August 2017

will setoff of gst available, paid on
bank charges?

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6 Replies

Prashant Toshnival (42 Points)
Replied 11 August 2017

no there is no gst on bank interest paid.....so no ITC

Prashant Toshnival (42 Points)
Replied 11 August 2017

no there is no gst on bank interest paid.....so no ITC

Neha Jain (Chartered Accountant) (1085 Points)
Replied 11 August 2017

Banks are charging GST on bank charges. So to avail ITC of this first you should intimate your GSTN to your bank.

Chhatra Singh Dugar (1464 Points)
Replied 11 August 2017

For this minuscule amount of GST on bank charge - are banks going to file in their GSTR -1 for Thousands of customer every month

Ankush Kumar (233 Points)
Replied 12 August 2017

I am fully agreed with chhatra singh ji. in that case we must have monthly invoice from bank

RUPESH JADHAV (TAXATION) (22 Points)
Replied 12 January 2018

YES WE WILL CALIM GST ON BANK CHARGES IF BANK GIVEN CREDIT ON OUR GST NUMBER ONLY

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