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Paypal And Indian Govt. Will Take 18% GST- Sucks Indian Freelancers

Discussion in 'Business & Tax Advice' started by ubsmax, Oct 30, 2017.

  1. ubsmax

    ubsmax Junior Member

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    Just a few minutes ago I received e-mail from PayPal as below:
    This is really sucks, as a freelancer from India we all not do any business in India, and helping our country to get more revenue indirectly. Indian govt. knows this very well and should think about this. Previously RBI set the rules that had been costing us money, time and frustration. Now this GST is taking our hard earned money & asks to claim input tax credit later.
    Indian govt. is not doing anything for freelancers at this date and now they are ready to take our money by GST.
    On the other hand, we have no other best choice that replace PayPal in all way.
    Here on BHW many of us discussed on this issue.

    Here is the petition about this if you don't know:
    https://www.change.org/p/finance-mi...e-paypal-payoneer-rules-regulations-for-india

    .
     
  2. Dinesh Singh

    Dinesh Singh Newbie

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    Hi, you are perfectly right. I've also signed the petition and added my comment there. This is truly ridiculous what this Govt have been doing. So silly and utter complex financial rules for every commoner.
    This is pathetic. In our case the website cuts the commission when we get paid then PayPal is ready to take their amount, then we pay high amount in exchange rates when we buy any project's asset and when we get paid we get a little lesser than what at dollar is running. We're loosing in everything eventually and now this GST. This Govt is a failure generating employment and when an individual wants to do something of his/her own put lot of taxes on them and let them not live happy.
     
  3. johnny4k

    johnny4k Regular Member

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    Tweet to pm he will respond
     
  4. rocky12

    rocky12 Jr. VIP Jr. VIP

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    GST is on PayPal transaction fees only not on whole cost amount
     
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  5. Gr00t007

    Gr00t007 Regular Member

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    As they say:

    "We have updated our UA to comply with local laws applicable to Indian companies including local taxation laws. We have been advised PayPal Services will attract a GST rate of 18% (applicable only to the Fees charged by Paypal and not the whole amount you receive or your purchase price). Please consult your tax advisors in terms of your eligibility for refunds."

    For further info: https://www.paypal.com/in/webapps/mpp/ua/upcoming-policies-full

    P.S: Kindly know that it's the "service" on which GST will be applied and not on your whole amount. Read before creating a havoc.
     
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  6. teener

    teener Regular Member

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    If its true then good
     
  7. Blackhatlover

    Blackhatlover Junior Member

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    Yes, charge the Gst from the service fees. That's Ok., but the question is GST registration is mandatory for freelancers??? if we dint register it then any payment problem will be in the future???

    Can any one please answer my questions????
     
  8. mak3r

    mak3r Jr. VIP Jr. VIP

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    At first i thought they take 18% from transaction amount, but people mention that they only take 18% of paypal transaction fee? If that is true it is not that bad after all.