ITC on bank charges

07 May 2020

can we avail credit on bank charges pertaining to fy 19-20 in year 20-21

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Pankaj Rawat (GST Practitioner) (55057 Points)
Replied 07 May 2020

Yes you can .
Any ITC pertaining to Fy 19-20 can avail till September-2020 month's return.

(As per Provisio under section 16(4) of CGST Act)

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Sajid Jubeir (14 Points)
Replied 07 May 2020

But I fails to record ITC on such charges in books in fy 19-20 now I want to record in fy 20-21 is it possible

Asha Kanta Sharma (Manager - Finance & Accounts) (36398 Points)
Replied 08 May 2020

Yes it is possible. You can revise the same on your Sept 2020 GST Return or before Filling the GST Annual Return via GSTR9

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