Itc on bank charges

We can draft a letter to the bank mentioning the bank charges in a month and the applicable GST on the same and get it signed by the bank officials. The same can be considered as eligible document for availing ITC. 

Thanks Asiya.

Will letter acknowledged by the bank manager will be sufficient in this case. Don't we need invoice for the same. What if we need to file purchase details along with invoice no. and date in a GSTR at a later date.

Yes the same can be considered as a valid document to avail the credit. However, in future if the new returns come up (ie., Sahaj, Sugam), then the bank has to mandatorily upload the invoice as per the formats of new returns. 

As per C.G.S.T Rule 24(2), Where the supplier of taxable service is an insurer or a banking company or a financial institution, including a non-banking financial company, the said supplier may issue a consolidated tax invoice or any other document in lieu thereof, by whatever name called [for the supply of services made during a month at the end of the month, whether issued or made available, physically or electronically whether or not serially numbered, and whether or not containing the address of the recipient of taxable service but containing other information as mentioned under rule 46. 

Hence, bank may issue any document in lieu of invoice but it must contain all information (Except specified above like Name as "Tax invoice" and address of service recipient e.t.c.) required to be furnished as per rule.46 (Like GSTIN of recipient of service)

So ITC should be claimed on bank charges without tallying it with the GSTR-2A and getting the same acknowledged on the letter from the bank.