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+---- Thread: [Payment Processor] Indian individuals/firms are screwed...kind of. (/showthread.php?tid=5708817)
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Indian individuals/firms are screwed...kind of. - Rishabh - Sep 1, 2017
To all my Indian fellas here. You might already be aware of the new GST regime.
Got a mail from paypal last night about some massive changes happening in their policies.
The major drawback is they will now start charging 18% GST on all transactions. Yeah...despite your revenue being from export of services/software, you still have to bear that 18% cut if you take payment from Payoneer/Paypal and other such services.
Someone started a petition against this move and to push government for making amendments to the act - https://www.change.org/p/finance-ministry-of-india-rationalize-paypal-payoneer-rules-regulations-for-india
High time we all signed up for this and prevent the entire freelancing/blogging/software industry from dying a slow, painful death.
* - Hell - Sep 1, 2017
Yes man. It is very painful. Let's sign the petition
* - Sahaj - Sep 1, 2017
I'm actually gonna sign it. They already don't allow accepting money as F&F, and now this. Pisses me off tbh.
* - Ninetales. - Sep 1, 2017
sounds like a dire need for economic reform
* - Canonsx130 - Sep 1, 2017
Yes, 1000 people signing an online petition is gonna force them to make regulations to overcome GST.
* - Numinous - Sep 1, 2017
Even i got two cheques from Paypal after withdrawing two amounts from PayPal.
* - Mr Kewl - Sep 2, 2017
Accept payments from Bitcoin/other Cryptos. If you have problem of Liquidity or want cash for your coins. Just send me a PM.
Paypal should die.
* - Hacker - Sep 2, 2017
Paypal sucks. The faster you realize the better. Quit using paypal. Lets boycott it.
* - john.corner143k - Sep 2, 2017
This is seriously shitty.
* - bronzegods - Sep 2, 2017
What if you have a e-commerce website with payumoney gateway. Will they charge GST on that too?
Also, where can I get started with bitcoin.
(Sep 2, 2017 12:05 AM)hippieb0y Wrote: Paypal sucks. The faster you realize the better. Quit using paypal. Lets boycott it.
What alternatives do you have?
Direct bank transfer?
* - SIM-2223238 - Sep 2, 2017
If someone creates a ICO now that decentralizes payments from the goverment, they'll be banging in india.
Crypto in general really but making it easy for the consumer.
* - Numinous - Sep 2, 2017
But i've some genuine clients from abroad and they all are using paypal, so they don't know what Bitcoin is..
* - SIM-3467872 - Sep 2, 2017
I don't use Paypal anymore but yes many uses Paypal for Payment of their services 18% tax + 4% paypal fees that's ridiculous find something else other than paypal maybe crypto payments.
* - Rishabh - Sep 2, 2017
All those who are suggesting to use crypto must understand that most of the freelancers/bloggers etc can just not ask their clients to pay in btc. Besides none of the sites like fiverr, freelancer.com would allow transactions in that.
There are about 1.5 million people in this industry who depend on services of paypal and payoneer.
The sad irony is our country receives a major chunk of it's revenue through software/service export, and the government never analyzed "Services" properly while drafting the Goods and Service Tax.
(Sep 2, 2017 12:18 AM)bronzegods Wrote: What if you have a e-commerce website with payumoney gateway. Will they charge GST on that too?
Also, where can I get started with bitcoin.
What alternatives do you have?
Direct bank transfer?
I suppose you are speaking of domestic e-commerce? In that you have to collect and pay GST if you are allowing sales from outside your state. If the sales are only limited to your own state, then you are exempted till your revenue is 20L.
And I don't think foreign clients will wire small amounts like $50 to a freelancer.
* - Flash ⚡ - Sep 2, 2017
FcUk that shit ;( Stupid GST N SHIT
use zebpay bois