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Payoner India GST

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#1 by nupur_n_das » Tue Dec 05, 2017 02:47

I want to if anyone who has cashed out using Payoneer in India, is GST applicable for the transaction. If yes what is the percentage.
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#2 by RohanKP » Thu Dec 07, 2017 12:22

i just received paym,enmt via payoneer in india The only charges that were incurred were by clixsense the initial 2$ are cut by clixsense.And No GST ;) payonner receives your cashout amount-2$ and then sends the amount to yourlinked bank account within 24 hrs of receiving funds.(However in my experience this process of transfer to bank take 2-3 days from reception of payment on payoneer wallet.)And yes the only deductionis that payoneer charges an extra 2% for USD to INR conversion.For eg. IF the average Value of a dollar in INR for any day is 64 rupees then payoneer would give you (64-1.28)=62.72 for every dollar where 1.28rs is the 2% conversion charge of 64rs .And thats about it.
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