SERVICE TAX CREDIT ON BANK COMMISSION, Service Tax

[HEMANT KAPADIA]

Can we take service tax credit on bank commission charged by bank for collection of sale proceeds of export goods. This is in view of defination of input services where bank commission is not specifically mentioned nor services used in business activity is mentioned.

Posts / Replies

[SHIVKUMAR SHARMA]

Yes,You can take ITC on GST paid for Bank commission Charges.

[Ganeshan Kalyani]

Bank charges is an expense in normal course of business. As it is in course or furtherance of business the input tax credit of the tax paid on bank charges is eligible. Thanks.

[DR.MARIAPPAN GOVINDARAJAN]

You can avail input tax credit.