TaxTMI 
TaxTMI 
Dear Experts,
Is the GST charged in bank charges like Loan Processing charges, RTGs commission etc. are elgible for ITC claim
GST APPLICABILITY 31.05.2019
31 May 2019 
2 Replies 
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Input tax credit on bank charges is claimable when charges relate to a business account and taxable business activity.
GST paid on bank charges (loan processing fees, RTGS commission) is claimable as input tax credit where the transactions are B2B, the charges relate to a business account rather than a savings/personal account, and the expenses are incurred in the course of a taxable business. (AI Summary)
GST paid on bank charges (loan processing fees, RTGS commission) is claimable as input tax credit where the transactions are B2B, the charges relate to a business account rather than a savings/personal account, and the expenses are incurred in the course of a taxable business. (AI Summary)