Table of Contents
- 1 What is GST charge in Axis Bank?
- 2 Why do banks charge GST?
- 3 Can we pay GST through Axis Bank?
- 4 What is Axis Bank minimum balance?
- 5 Are consolidated charges in Axis Bank refunded in any case?
- 6 How many transactions are allowed in AXIS BANK ATM in a month?
- 7 How can I avoid additional international ATM charges?
What is GST charge in Axis Bank?
2\% charge plus GST will be levied on amount prepaid.
Why do banks charge GST?
Inter-State Bank Payment with GST on Bank Charges where Input Tax Credit is available, for example bank charge of INR 10000 to be paid to bank and 18\% IGST has to be calculated on bank charges amount….GST on bank charges.
| Particulars | Amount |
|---|---|
| Bank Charges | 10000 |
| CGST Receivable Account | 900 |
| SGST/UTGST Receivable Account | 900 |
| Bank Account | -11800 |
Do banks charge GST?
As per GST Law, GST is applicable on bank charges and ITC can be availed for specified services. As per Rule 54(2) of CGST Rules, 2017, Banks shall issue a tax invoice or any other document in lieu of tax invoice. CGST & SGST are applicable if the bank and customer are located in the same state.
What are the charges of Axis Bank?
Demand Draft
| Demand Draft | Charges |
|---|---|
| Issue (Payable at Correspondent Bank Locations under Desk Drawing arrangement) | Rs 1.00 per thousand; Minimum Rs 25 per DD |
| Cancellation (drawn on our Bank) | Rs. 75 per demand draft |
| Cancellation (drawn on correspondent bank) | Other bank charges plus Rs. 125 per Demand Draft |
Can we pay GST through Axis Bank?
Goods and Services Tax (GST) Payments through Retail Internet Banking (RIB) of Axis Bank. Enter the Username and Password. Click on “Login”. Click on the “Services” tab > select “Payments” > choose “Create Challan”.
What is Axis Bank minimum balance?
Axis Bank Minimum Balance Requirements Axis Bank savings accounts require different minimum balance amounts to be maintained, depending on the type of account held and the target audience it caters to. The minimum balance amount ranges from as low as Rs. 2,500 to Rs. 1,00,000/-.
How are bank charges treated in GST?
A statement issued by the bank can be treated as an invoice for tax. Also, you must be accordingly eligible to claim the input tax credit, based on a statement issued by the bank, as long as it contains all the particulars prescribed, including your GST registration number.
Does Axis Bank charge for account closure?
Are There Any Charges For Closing Axis Bank Account? Axis bank does not charge you any amount if you close your account within 14 days of account opening or after one year. However, if you close your account between 14 days and one year, they will charge a minimum of 500 INR for account closure.
Are consolidated charges in Axis Bank refunded in any case?
Yes, they can be. E.g.: You had deposited cheque but due to delay from bank staff, the cheque was credited very late into your account and hence stipulated balances criteria was not met and hence consolidated charges were recovered. …
How many transactions are allowed in AXIS BANK ATM in a month?
Maximum 30 transactions allowed in a month (Financial on Axis ATM & Financial + Non-Financial on other bank ATMs),there after fees of flat Rs. 20 per transaction would be charged International Cash Withdrawal fees (ATM)
Will Axis Bank YMCA reverse charges on account of non- maintainence?
My account got deducted on account of non maintainence of minimum balace. We have already raised the request for charge reversal as per your request, the same shall be reversed to your savings account within two weeks time. Updated by ANOOPKR its more than 2 weeks and axis bank ymca branch cant keep up the committment of reversing the charges.
Will GST be charged on amount prepaid?
No 2\% charge plus GST will be levied on amount prepaid. For Addendum to schedule of charges, please click here . Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).
How can I avoid additional international ATM charges?
Avoid additional international ATM charges. Look for Allpoint ATM networks (surcharge free) Important Notice for Value Based Current Account Fees and Service Charges effective from August 01, 2021. for Complete list of service fees and charges.