GST input credit in Bank account

Gst bill shall be in the name of the company.

It would not b credited in Ur bank account

Originally posted by : Heet Shah
	It would not b credited in Ur bank account

Is there any option to get refund in bank account, because at this time I am not providing services that's why want refund in bank account.

I am going to buy equipment to provide services. 

Can I get 18% gst back? 

Where will it be credited? 

Is there any way to transfer gst input in company bank account?

Originally posted by : Kumar
	Originally posted by : Heet Shah It would not b credited in Ur bank account Is there any option to get refund in bank account, because at this time I am not providing services that's why want refund in bank account.

It would be credited in Ur credit ledger on gst portal which can only be settled against output tax liablity

Originally posted by : Kumar
	I am going to buy equipment to provide services.  Can I get 18% gst back?  Where will it be credited?  Is there any way to transfer gst input in company bank account?

It will be reflected on the gst portal.

Basically input tax credit is available to business man  so it doesn't forms part of cost while one is supplying to the customers 

So when you use or sale the asset u will collect the tax from customer and use these ITC against the tax collected.

Say u bought machine for 100 with gst of rs.18

U will get rs.18 Cr in Ur credit ledger.

So whenever u sale say for rs.90 with gst of 16.5 u can utilize credit of 18 against these 16.5

Incase of sale of machine or goods by u u had a tax liablity of 20 u can utilize a credit of rs.18 and will need to pay rs.2 in cash

Thank you sir for clarifying