ITC on Bank chargess

Hi Experts,

We are a software service provider, please let me know we are eligible to claim ITC on Bank charges...?


Bank charges for Foreign remittance and other Bank charges...


Thank you
Vijith T K
Replies (4)
Quick Summary
This discussion explores whether software service providers can claim Input Tax Credit (ITC) on bank charges, specifically for foreign remittances. While some suggest it's claimable as a common input, others point out that GST may not apply or that reversals are needed for exempted turnover. The consensus leans towards eligibility, with a note to reverse ITC proportionally if exempted services are involved.

In my knowledge, Yes, you can avail as common input. If there is any exempted turnover, has to reverse the ITC availed on such transactions proportionately periodically.

 

Same is available
Gst is not applicable in case of bank charges.
GST is applicable and deduction by bank also.

@ Sabyasachi , please stop replying wrong and senseless answers

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details
Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details