The Goods and Services Tax (GST), introduced in India on 1 July 2017, consolidates various national and state-level taxes on goods and services. Its goal is to simplify tax calculations and collection, bringing greater efficiency and transparency to India's taxation system.
The way in which GST is calculated and collected differs by payment method:
- Card payments: Flywire does not collect GST for card payments.
- Online bank transfer: GST will be calculated and collected directly by Flywire's local payment partners for online bank transfers completed via the SBI, HDFC or Net Banking payment options. The amount due will be displayed on our partner's platform when completing the payment.
- Bank Transfer in INR: GST will be calculated directly on Flywire's platform and will be collected directly by our local payment partner. The amount will be displayed on both the Review & Confirm step of creating a payment request as well as on the tracking page once a payment has been confirmed.
Regardless of the payment method, GST will be calculated based on the margin of money conversion in accordance with the relevant provisions of the GST law.
Please keep in mind, GST will not be returned in the scenario you receive a refund for your payment. This is because the tax is applied to the service rendered and is deducted from the original payment amount in order to be submitted directly to the relevant tax authorities at the time of payment.