XYZ Pvt. Ltd. received payment in USD from their overseas customers which are converted into INR through their Indian bank. Bank shows FX conversion charges in the remittance conversion advice but the same are not debited to XYZ account, only the GST component is debited. Can XYZ claim ITC of the GST component even though the value of the supply i.e. FX conversion charges are not paid to the bank?
Kaustubh Karandikar Asked question October 4, 2020
Without bearing the expenses , ITC of GST thereon should be doubtful.
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Frah Saeed Changed status to publish October 9, 2020