Is it possible to claim back the GST paid on credit card joining/renewal fees as Input Tax Credit (ITC)? What is the procedure, if possible.
Forget claiming that ITC on your credit card fee. That benefit is only for businesses! Here's the simple reason:Is it possible to claim back the GST paid on credit card joining/renewal fees as Input Tax Credit (ITC)? What is the procedure, if possible.
Ohhhh, I should do that, Anyone who has done it with Amex? Please share steps. 🙏🏻Forget claiming that ITC on your credit card fee. That benefit is only for businesses! Here's the simple reason:
Credit card fees aren't considered a "work expense" for you.
They're mostly for buying stuff for yourself, so the tax on the fee is like any other commercial tax.