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

letmein

letmein

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

This is bull!
 
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.
 
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.
 
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.
 
Back
Top