Is GST applicable on payment gateway?

Is GST applicable on payment gateway?

For domestic cards, netbanking and wallets the payment gateway fee charged is always 2\% along with 18\% GST on the fee. For international, Diners and Amex cards the payment gateway fee charged is 3\% along with 18\% GST on the fee. Note: In both the cases, the GST of 18\% is charged only on the payment gateway fees.

How do I pay GST through internet banking?

Step 1: Log in to the GST portal and go to the Services > Payments > Challan history. Step 2: Click on the hyperlink against the appropriate CPIN listed down. Further, select the right bank from the list of banks displayed for card payment or net banking and finish the payment.

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Which payment gateway is best for e-commerce stores?

Checkout: Top 10 Payment Gateways For Your E-commerce Website

  1. PayPal. PayPal established in 2002 is currently the most used payment gateway across the US.
  2. Stripe. Stripe is considered a tough contender and a fast-growing company soon to catch up with PayPal.
  3. Amazon Pay.
  4. Authorize.net.
  5. WePay.
  6. Square.
  7. FirstData.
  8. 2Checkout.

How do you calculate GST on net price?

GST amount = (Original cost x GST\%)/100. Net price = original cost + GST amount. • Remove GST: GST amount = Original cost – [Original cost x {100/ (100+GST\%)}] Net price = Original cost – GST amount. Here’s an example to illustrate this: Rate (\%) Amount. Original cost of goods.

How to calculate GST rate in QuickBooks Online?

1 Select GST Inclusive/GST Exclusive as per the requirement 2 Enter the original amount 3 Select the GST rate from the drop down menu list 4 Click on Calculate to check the result. The result will show the total GST amount and Pre-GST/Post-GST amount as per your original requirement.

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How to calculate GST on goods and services sold under 18\%?

If a goods or services is sold at Rs. 1,000 and the GST rate applicable is 18\%, then the net price calculated will be = 1,000+ (1,000X (18/100)) = 1,000+180 = Rs. 1,180. For calculating GST, a taxpayer can use the below mentioned formula :

What is GST and how it works?

What is GST? Goods and Service Tax (GST) is an indirect tax that manufacturers, wholesalers, retailers and consumers have to pay on consumer goods and services. It is a destination-based and multi-stage tax which is charged on every value addition.