ITC on Bank charges

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33 Points Posted on 23 June 2018
should we take ITC on bank charges whether it is applicable under Gst act ....?
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On 23 June 2018 at 21:13 Report
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Accountant
1878 Points Posted on 23 June 2018
Yes, You can avail ITC on Bank charges
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On 23 June 2018 at 21:50
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GST Practitioner
29904 Points Posted on 23 June 2018
Yes , you can ,.. but ask bank for Tax Invoice for the same
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On 23 June 2018 at 21:59
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33 Points Posted on 23 June 2018
at the end of every month we should ask tax invoice from a bank
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On 23 June 2018 at 22:18
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11239 Points Posted on 24 June 2018
If bank issue GST invoice bearing your GSTIN number and company name, then you can claim ITC.
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On 24 June 2018 at 00:47
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PARTNER
40 Points Posted on 24 June 2018
If we dont want to avail ITC on bank charges as those are very small amounts then where to be mentioned bank charges amount in GSTR 3B Bank charges is inclusive of GST amt . It is inward supply from RD.
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On 24 June 2018 at 05:25
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GST Practitioner
29904 Points Posted on 24 June 2018
Yea U Can do so, you can ineligible the ITC by showing it in 3B :

show it under Table 4 , row 5 all other ITC
& In Row Row B (2) ITC reverse ,Others
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On 24 June 2018 at 09:27
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Accounts
29 Points Posted on 26 June 2018

Bank is not issuing the tax invoice for bank charges as the amount is very small, can we take input credit now.

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On 26 June 2018 at 11:00
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11239 Points Posted on 26 June 2018
Not possible to take itc when tax invoice not received by bank.
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On 26 June 2018 at 12:52

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