Sir
we imported goods under L C and sold them on high sea sale basis. can we avail itc on bank charges related to this particular L. C. please guide.
Bank charges /commission on the LC amount is not claimable.
I think GST 18% levied by the bank on the "bank commision charges " can be claimed in input credit .
also Import duty+cess non refundable. IGST 18/28% levied by customs can be claimed as input (eiether by you or the final buyer/party who is import clearing customs )
V.K. Ranjan & Co(Chartered Accountants)
New Delhi
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YOGESH KAPOOR AND ASSOCIATES
New Delhi
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Shyam Joshi & Associates
Pune
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CAclubindia
