GST INPUT ON BANK CHARGES
ravs kumar (12 Points)
13 July 2017ravs kumar (12 Points)
13 July 2017
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 13 July 2017
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.
Vishal Agrawal
(ADVOCATE)
(59 Points)
Replied 13 July 2017
ravs kumar
(12 Points)
Replied 19 July 2017
R.S.SARAVANAN
(CHARTERED ACCOUNTANT)
(32 Points)
Replied 31 July 2017
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.
shubham garg
(2 Points)
Replied 02 September 2017
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.
Lalit Pandey
(Sr. Executive)
(24 Points)
Replied 28 September 2017
Dear sir,
can you share C gst section related to ITC on bank charges
Smitej
(Student CA IPC / IPCC)
(116 Points)
Replied 08 April 2018
R.S.SARAVANAN
(CHARTERED ACCOUNTANT)
(32 Points)
Replied 20 June 2018
INput on purchase of car is ineligible to claim. We can claim depreciation on total amount instead