We have taken Bank Guarantee from SBI. Bank collected charges with GST and uploaded the same to GST portal in FY 18-19. Please advise can we take credit.
Thanks.
GST ITC on all types of expenses/goods/services "used in the course or furtherance of business" can be claimed in accordance with the Provision of Section 16(1) of the CGST Act 2017. Yes, I agree with this.
But, if a tax payer obtains Bank Guarantee to produce before the GST authority to postpone recovery of his dues of which he has questioned the same before appellate authority? Providing the BG to postpone government dues is coming under the purview of "Furtherance of Business"?
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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