TaxTMI 
TaxTMI 
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 input credit on the same.
Input tax Credit on GST for Foreign Inward Remittance
27 Jun 2018 
4 Replies 
16443 Views Asked by
Guest 
Input tax credit on bank charges for export proceeds allowed where banking services are in furtherance of business.
Whether Input Tax Credit is available on GST charged by banks on fees for foreign inward remittances for exported services. Contributors agree ITC is available because banking charges for handling export proceeds are services in the course and furtherance of business and are not specifically excluded under the provision referenced in the discussion. (AI Summary)
Whether Input Tax Credit is available on GST charged by banks on fees for foreign inward remittances for exported services. Contributors agree ITC is available because banking charges for handling export proceeds are services in the course and furtherance of business and are not specifically excluded under the provision referenced in the discussion. (AI Summary)