GST on interchange fees on card settlement fees paid/shared by banks: CBIC Clarify

By | June 4, 2018
(Last Updated On: June 4, 2018)

Whether GST will be levied on interchange fees on card settlement fees paid/shared by banks?

Fees charged for card settlement is a consideration which is part of a separate  transaction between the banks which are parties to this transaction and shall be liable to GST.

This is a B2B supply and credit of this transaction is available.

Q 64 of GST FAQs on Financial Services Sector published by CBIC

Category: GST

About CA Satbir Singh

Chartered Accountant having 12+ years of Experience in Taxation , Finance and GST related matters and can be reached at Email : Taxheal@gmail.com

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