TMI BlogGST CLAIMED ON BANK SERVICEX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sir/Madam, I would like to know that can we avail ITC on Bank Charges as per charged by bank from Current Account of company ??? Please help me out in this regards Pradeep Shukla - Reply By Atul Rathod - The Reply = Yes you can claim the ITC. - Reply By KASTURI SETHI - The Reply = There is no restriction for availing ITC on GST paid on bank charges paid from current account provided yo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... u fulfill normal conditions laid down in Sections 16 17 of CGST Act, 2017 . - Reply By Ganeshan Kalyani - The Reply = Bank charges incurred is in Course and furtherance of the business and the same is not in the blocked credit u/a 17(5) . Hence, you can take credit provided your outward supply is taxable. It your outward supply is partly exempt and partly taxable then only proportionate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... credit is allowed. - Reply By Adarsh Sharma - The Reply = You can avail the ITC on bank charges, whereas u need to obtain the valid invoice from the bank as prescribed under in para 2 of Circular No. 90/09/2019-GST dated 18.02.19 - Reply By Ganeshan Kalyani - The Reply = Yes, having invoice copy on record is also essential to take credit. At the same time the credit should also get popula ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted in your GSTR 2A . - Reply By YAGAY andSUN - The Reply = Your GSTIN should be mentioned on the Bank Statements, Debit Advices as B2B. - GST CLAIMED ON BANK SERVICE - Query Started By: - PRADEEP SHUKLA Dated:- 13-11-2019 Goods and Services Tax - GST - Got 6 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagement ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... india - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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