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ITC on Bank Charges

Naveen Kumar (629 Points)

17 July 2020

Dear Sir
Can we claim ITC on bank charges
Amount reflect in 2A by bank

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9 Replies

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 17 July 2020

Yes, You can claim if reflected in GSTR 2A.

1 Like

RAJA P M ("Do the Right Thing...!!!") (127133 Points)
Replied 17 July 2020

Yes... You can claim ITC for that.

Note : invoice must be get from bank or (it's through your mail id)

PRIYA PRASHAR (.) (60 Points)
Replied 17 July 2020

Yes you can claim

annu Goyal (1102 Points)
Replied 17 July 2020

Yes , you can claim ITC on Bank charges and it is common ITC soo take care about nature of supply, If all taxable supply then claim full otherwise proportionally and it must be reflected in GSTR 2A

1 Like

Shivam RC (Student) (23683 Points)
Replied 17 July 2020

Yes you can claim ITC on Bank Charges being reflected in your GSTR-2A.

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Santosh jaiswal (281 Points)
Replied 17 July 2020

Yes you can claim

Naveen Kumar (629 Points)
Replied 20 July 2020

Sir, I checked from email id not received any bill and bank also unable to provide bill so can I avail ITC or note

RAJA P M ("Do the Right Thing...!!!") (127133 Points)
Replied 20 July 2020

No... If You don't have invoices then better to get it from bank. If they can't give invoice then complain to "Bank Ombudsman".

Otherwise the ITC taken without invoice then its problem in future.

Shivam RC (Student) (23683 Points)
Replied 20 July 2020

As per the Provision of Section 16(2) of the CGST Act 2017, ITC on Goods or Services or both can be availed only when the following FOUR CONDITIONS are satisfied :

(1). Possession of a Tax Invoice.
(2). Received the Goods or Services.
(3). The Supplier must have paid the Taxes.
(4). The Recipient must have filed the Return.

So if you are not in a possession of a Tax Invoice, then the condition of sub-section (2) of Section 16 is breached. Hence you should not avail ITC to avoid any type of Departmental harassment in the future.

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