Itc on bank charges

Anitya ( ) (287 Points)

06 May 2019  

Good Morning Members.

I would like to share a major problem in GST in banking. GST is applicable on various charges - ATM Fee, Cheque Book Charges, Cheque Return Charges, NEFT/RTGS Charges, Loan Processing Fee, Inspection Charges etc. But the banks are neither issuing invoices, nor giving GST credit to the customers. The GST charged by banks are not showing properly in the GSTR-2A of most of the taxpayers. What should be done in such cases. How to take ITC on the bank charges - should we take it or completely ignore them. Last date of taking ITC for 2017-18 is over and the last date of filing yearly GSTR-9 for 2017-18 is 30th June 2019.

I request members to share your views.

Thanks