the clarification on the applicability of Gst under RCM for foreign bank charges
example: Mr A an axis Bank customer, export to Mr B in the USA a Citibank customer. Mr A raised an export invoice for Usd 25000/- and requested axis Bank to handle the realisation of the invoice amount. we received Usd 24950. the deduction is 10USd : forex charges by axis Bank which charged GST
USD 40 : charges for remittance services by the corresponding bank / intermediary bank
1. what is the GST impact. on the foreign bank charges for USD 40
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Foreign bank charges
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