Handling and delivery charges are taxed separately at 18% GST.
Slab applied,
Taxable value,
GST on transaction,
GST on handling @ 18%,
Total GST payable₹0
GST slabs
How the GST is computed.
GST is charged on the "taxable value" of the forex transaction, defined under the CGST Rules. The taxable value rises in tiers based on the rupee value of the deal.
| Transaction amount (INR) | GST on taxable value |
|---|---|
| Up to ₹1,00,000 | 0.18% of amount (minimum ₹45) |
| ₹1,00,001 to ₹10,00,000 | ₹180 + 0.09% of amount exceeding ₹1,00,000 |
| Above ₹10,00,000 | ₹990 + 0.018% of amount exceeding ₹10,00,000 (max ₹10,800) |
Worked examples
Two common scenarios.
Example 1 , Purchase of USD 5,000 @ ₹82.58
Rupee value of the deal₹4,12,900
GST on first ₹1,00,000 (flat)₹180.00
GST on excess ₹3,12,900 @ 0.09%₹281.61
Total GST₹461.61
Example 2 , Purchase of USD 12,000 @ ₹88.35
Rupee value of the deal₹10,60,200
GST on first ₹1,00,000 (flat)₹180.00
GST on next ₹9,00,000 @ 0.09%₹810.00
GST on excess ₹60,200 @ 0.018%₹10.84
Total GST₹1,000.84
Notes
- GST is charged on the taxable value, not on the full rupee value of the transaction.
- For amounts up to ₹25,000, the effective minimum GST is ₹45.
- Indicative figures only , final GST is calculated by the dealing AD bank at the time of settlement.
- TCS (Tax Collected at Source) is separate from GST. See our TCS calculator.