Itc on bank charges

[mukesh gupta]

Any remittances to foreign supplier under high seas sale purchase bank charges commission on forex conversion & GST on it . Is itc available on that GST if there is invoice issued by bank and shown in 2 a portal.

AI Summary

ITC on GST for Bank Charges in Foreign Remittances Under High Seas Sale Purchases Confirmed Under Sections 16 and 17 A query was raised regarding the availability of Input Tax Credit (ITC) on Goods and Services Tax (GST) applied to bank charges related to foreign remittances under high seas sale purchases. The question was whether ITC could be claimed if the bank issues an invoice and it appears in the 2A portal. Two respondents confirmed that ITC is available on such bank charges, provided other conditions specified in Sections 16 and 17 of the Central Goods and Services Tax (CGST) Act are met.