Getting charged a GST on forex markup for international card txns?

letmein

letmein

Skilled
Oct 11, 2009
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I just noticed this! I'm getting GST charged on the foreign exchange markup for international transactions. At 18%.

This is bull!
 
rdst_1

rdst_1

Skilled
May 10, 2009
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Nothing new about it. Have always been charged service tax by HDFC for the same. They are service charges so they would definitely have to charge service tax on it. Maybe your bank used to include it in the rate or you didn't notice it before.
 
R

random2

Adept
Nov 1, 2006
939
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Your card provider is charging you a fee for the forex service its providing and ofcourse they will levy service tax/GST on the same. This has been the case all the while. Nothing new.
 
letmein

letmein

Skilled
Oct 11, 2009
1,002
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552
Delhi
I guess Citibank never had it as separate line item before. I have an Amex Card also and they still do not show it as a separate charge.
 
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