PayPal : "Your latest tax invoice is ready for download."

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PoBoy

PoBoy

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I just got a e-mail from PayPal saying : "Your latest tax invoice is ready for download.", "You can now download the latest monthly tax invoice to see a summary of the GST charges for the payments you have received for November."

What does that mean? The link to download the invoice does not work.

I made a few purchases, amounts are small. Got a small refund from a online store. That's all.
 
PayPal collects GST from users & PP is supposed to pay to the Government !

however, as you know PayPal users are also supposed to disclose their income for the Income Tax ..
 
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PoBoy said:
I just got a e-mail from PayPal saying : "Your latest tax invoice is ready for download.", "You can now download the latest monthly tax invoice to see a summary of the GST charges for the payments you have received for November."

What does that mean? The link to download the invoice does not work.

I made a few purchases, amounts are small. Got a small refund from a online store. That's all.
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It is not a genuine email for sure.. PP or any others wont send such emails..
Just check the URI of email..
 
The e-mail is from: service AT intl.paypal.com

The download link starts with: https://www.paypal DOT com/in/cgi-bin/webscr?

From the PP FAQ :
Goods and Services Tax (GST) is a comprehensive indirect tax on all transaction of goods and services throughout India. It’s calculated at 18% on all types of fees (not purchase amounts) charged by PayPal for its services to all India users.

GST will be levied on the fees for all international and domestic transactions for both Business and Individual accounts registered in India. A consolidated invoice will be shared with you at the end of every month. Merchants/freelancers may be eligible for refunds or set off the GST charged – please consult your tax advisor for details.

For detailed information regarding GST, please visit our comprehensive Q&A.
...
Why is GST applicable now?
Until October 31, 2017, all PayPal users in India are contracted with PayPal Pte. Ltd, Singapore, which is outside the purview of GST. Starting November 1, 2017, all users will be contracted with our local entity, PayPal Payments Pvt Ltd., India. As a result, GST will be levied on all our users in India at 18% on the PayPal fee only.
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From the FAQ above, it seems clear that they are only levying GST on the transaction fees they charge. People who are paying GST for services rendered for which they receive payment via PayPal will be eligible for input tax credit for the GST they pay above.
 
If you are registered under GST, you can offset GST deducted by Paypal to what you owe (Paypal's invoice should also have your GSTIN mentioned). Else, you can just ignore it.

EDIT: And ofcourse if its a business expense
 
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