GST INPUT ON BANK CHARGES

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.

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.

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.

Dear sir,

can you share C gst section related to ITC on bank charges

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INput on purchase of car is ineligible to claim. We can claim depreciation on total amount instead