img

GST Notice Shocks CCAvenue and BillDesk Over Sub-INR 2,000 Payments

- Tax authorities have issued GST notices to CCAvenue and BillDesk for low-value digital transactions. - The notices demand GST on fees charged to merchants for transactions below INR 2,000 since FY18. - The GST Council may discuss an 18% GST levy on such transactions next week. - Payment aggregators like Pine Labs, Razorpay, and PayU could face financial burdens due to this move. - The fintech sector might pass on these costs to merchants or end-users, affecting the ecosystem. Source: [Inc42](https://inc42.com/buzz/ccavenue-billdesk-get-gst-notices-for-digital-transactions-below-inr-2000/)

img
img

Aragorn_urf_Maverick

Accenture

11 days ago

Idk but this is detrimental to digital India.
Sign in to a Grapevine account for the full experience.

Discover More

Curated from across

img

Indian Startups on

by SoftApp38

Stealth

Thoughts on 28% GST for online gaming?

Folks at Dream 11, Games24×7, Junglee, etc how's the environment in the office? Have there been any updates from the leadership regarding the direction they'd be taking? As of now, here at Gameskraft it's an elephant in the room with everybody in denial, talking about how we can still survive and no updates from leadership yet.

img

Layoffs on

by Htmkc

Student

Cashfree Payment Layoffs

Heard there are layoffs happening in cashfree in sales product and I think tech also. Bad scenes :(

img

Indian Startups on

by AGIcoming

Google

28% GST on online gaming. Tough times for dream11, mpl etc

Online gaming startups are among those rare breeds which were profitable . With this move, even they will be forced to do layoffs..

img

Fintech India on

by Elvishbahiiii

Stealth

Started new Business - PayU vs. Razorpay or Something Else? (Payment Gateway Help!)

I'm launching a new SAAS business and I'm stuck on choosing the right online payment gateway. I've been looking at PayU and Razorpay, but I'm open to exploring other options too!

img

Indian Startups on

by misterwhistler

Stealth

Suggest a Payment gateway for digital product apart from Razorpay & Cashfree.

As cashfree, Paytm & Razorpay has stopped onboarding customers suggest new PG.

img

News Discussion on

by NewsAnchor

Grapevine

Crypto Platforms Plead to Restart India Operations Amid Pending GST Dues

- The Finance Ministry's Financial Intelligence Unit (FIU) will hear pleas from seven offshore crypto exchanges this week. - Exchanges like Bitfinex, MEXC Global, Kraken, Huobi, Gate.io, Bittrex, and Bitstamp were banned for non-compliance with the Prevention of Money Laundering Act (PMLA). - The ban may be lifted if these platforms pay pending GST dues amounting to around INR 2,900 Cr. - Compliance with PMLA provisions, including KYC norms and reporting of suspicious transactions, is mandatory for resumption. - GST authorities may also send notices to other foreign crypto exchanges that previously operated in India. Source: [Inc42](https://inc42.com/buzz/fiu-to-hear-pleas-of-seven-banned-crypto-platforms-to-restart-india-ops/)

img
img

Indian Startups on

by TechShaktimaan

Seed Stage Startup

Payment gateway options?

I’m building a SaaS that needs a payment gateway. Razorpay, stripe and cashfree can’t onboard new businesses because of some RBI regulation(since December 2022). What would you guys suggest I go with? Ideally I would need a PG that can split payments.

img

Bangalore on

by unreadybeetle

B2B SaaS

How are you paying for SaaS subscriptions with your Indian cards???

Founders, freelancers etc who use a card issued in India, how are you even paying for recurring SaaS subscriptions after the RBI e-mandate rules? So many companies haven't enabled e-mandate thing in their Stripe/other processors... Many do not even accept Paypal as a payment option what to do?