Input tax Credit on GST for Foreign Inward Remittance

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..... Input tax Credit on GST for Foreign Inward Remittance
Query (Issue) Started By: - JAISIMHA GOPALARAO Dated:- 27-6-2018 Last Reply Date:- 28-6-2018 Goods and Services Tax - GST
Got 4 Replies
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..... GST
Dear Sir, We provide Export of Services as well we provide domestic Services. We receive proceeds in foreign currency for exports. Banker charge Bank charges and also GST @ 18%. Can we take in .....

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..... put credit on the same. Reply By Alkesh Jani: The Reply: Sir, In my point of view, banking services are in course and also for furtherance of business, as, the same is not specifically restricted un .....

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..... der Section 17(5) of CGST Act,2017, therefore, ITC is available. Our experts may correct me if mistaken Thanks Reply By Rajagopalan Ranganathan: The Reply: Sir, You are eligible to avail ITC of g .....

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..... st paid by the bank. Reply By YAGAY and SUN: The Reply: Since such deductions by the banks are related to your export business and in furtherance of Business therefore in our view also you are eligi .....

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..... ble for ITC on such charges. Reply By Ganeshan Kalyani: The Reply: Input tax credit is eligible.
Discussion Forum - Knowledge Sharing .....

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