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Bank Charges

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Bank Charges

Post by Chris Lim on Thu Apr 02, 2015 11:24 am

Would like to know about the bank charges gst shall claims as input tax, eg: Giro, Chq book and any clearance chq charges is subject to gst. shall we claims as input. would this request bank to issued tax invoice?

Chris Lim

Posts : 9
Join date : 2015-04-02

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Re: Bank Charges

Post by joseph on Thu Apr 02, 2015 11:31 am

Bank should issue you a Tax Invoice/Statement. Claim the GST as your Input Tax.

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DISCLAIMER:
Any opinion expressed is strictly my personal view based on my understanding and interpretation of the GST Act 2014, Regulations, Orders, DG's Panel Decisions and Customs' Guides. You should seek advice from experts and/or the Customs Dept if the subject matter is significant to your business.

joseph

Posts : 277
Join date : 2014-09-25

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Re: Bank Charges

Post by Chris Lim on Thu Apr 02, 2015 2:18 pm

Thank you joseph.
To clarified for more detail that we should account this charges by using TX code? this will mix with purchases input, if we use of "total purchase value x GST rate" this amount will lower then input claim (TX code mix with other expenses subject to GST). shall we create another code (TX1) to segregate it?

Chris Lim

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Join date : 2015-04-02

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Re: Bank Charges

Post by joseph on Thu Apr 02, 2015 2:39 pm

It does not matter if same tax code as for your stock purchases. After all, they are for GST purpose only.

_________________


DISCLAIMER:
Any opinion expressed is strictly my personal view based on my understanding and interpretation of the GST Act 2014, Regulations, Orders, DG's Panel Decisions and Customs' Guides. You should seek advice from experts and/or the Customs Dept if the subject matter is significant to your business.

joseph

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