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ITC availability on Bank charges when bank charges reversed by bank deducting GST

Vipin Kumar (126 Points)

28 October 2021  
our bank charged us 100000.00 as cash deposit charges and charged 18000.00 GST on it
after 2 months bank reversed 100000.00 as we were having a previous approval from the bank for not charging cash deposit charges
now I got my 100000.00 back but bank is not refunding 18000.00 of GST Amount as the bank is asking us to claim it as ITC from GST

Can we claim GST on cash deposit charges which were reversed by the bank, if not it will be loss to the business

Thanks in Advance

 4 Replies

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)   (2919 Points)
Replied 28 October 2021

In order to process a refund claim, the following procedure must be adhered to:

  1. Visit the GSTN portal and fill in the application form meant for claiming refund.
  2. You will receive an email or SMS which contains an acknowledgment number after the filing of application is done electronically.

Vipin Kumar (126 Points)
Replied 28 October 2021

Sir we don't want refund, can we adjust it in our liability

Rajendra Prasad (Employee Private) (572 Points)
Replied 28 October 2021

What sought of document given while charging the cash deposit charges.? 

How ever Here the services of Cash depositing has been rendered by bank and charged along with GST.  Further they have returned the amount of Charges only. 

Request Bank to provide the Tax Invoice for the Charges collected, and financial credit note with out GST. Then you can claim ITC as you have received services, Having Tax Invoice for the same and Tax Paid by the bank to the Government.

Vipin Kumar (126 Points)
Replied 28 October 2021

Bank has provided a GST Invoice for cash deposit charges but no credit note is provided, And it is showing in GSTR2A

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