Foreign Exchange Charges
Service Charges relating to Credit Matters (Advances)
All Service Charges are exclusive of Goods and Services Tax (GST) which would be levied extra at the applicable prevailing rates as per Government of India guidelines. The present rate of GST on service charges is 18%.
Under the provisions of the GST Act, the tax amount shall be rounded off to the nearest rupee and, for this purpose, where such amount contains a part of a rupee consisting of paisa, then, if such part is fifty paisa or more, it shall be increased to one rupee and if such part is less than fifty paisa it shall be ignored.