bank charges ITC
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1) How to claim ITC on Bank charges in GSTR 3B of current month of March, 2018 and also from previous months which are being shown in GSTR 2A ?
2) I have commited a mistake in filling Taxable value in GSTR 3B of February, 2018 ; but the tax amount of cgst, sgst, igst has been filled correct. how can I rectify my mistake in March return. GSTR 1 has been filed for February month which is correct.
3) I have missed a sales invoice to be filled in GSTR 1 & 3B of January 2018 and both the returns has been filed for January and February 2018 respectively. How can I rectify the mistake of January month in March 2018 return ?
4) Some of my suppliers have not uploaded their sales invoices for the month of AUgust 2017 and October 2017, what should be the consequences of this ? whether I have to reverse the ITC of AUgust 2017 in march 2018 return ?
KIndly guide me regarding above issues.
thanking you,
Yours faithfully,
Rakesh Bhutoria
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1. ITC Of GST charged on Bank charges can be availed on the basis of tax invoice issued by bank.
As per Rule 46 of CGST rules, banks can issue a consolidated invoice at the end of tax period based on which ITC can be availed in form GSTR 3B subject to other conditions as prescribed in Section 16 of CGT Act.
4. Yes, as per the existing scenarios for GST return, ITC reversal shall be done in case Vendor doesn’t pay tax & file its GSTR-1. You’ve to take a commercial call to settle such invoices
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