Hi,
I hold an Indian Paypal business account.
I have a few queries.
1) I would like to know the Paypal fees that are getting deducted from my incoming amount are inclusive of GST that is whether GST is already included in the fees that are getting deducted.
2) I received 3 payments. 2 incoming payments in USD and 1 incoming payment in INR. But each of the amounts had different fee deduction.
- Payment 1: $15 (USD Received) -> $1.13 (Deducted) -> $13.87 effective amount available after fees to be transferred to bank. (This shows the fee is around 7.53% approx deducted)
- Payment 2: $55 (USD Received) -> $3.21 (Deducted) -> $51.79 effective amount available after fees to be transferred to bank. (This shows the fee is around 5.84% approx deducted)
- Payment 3: INR 73.95 (Received) -> INR 5.72 (Deducted) -> INR 68.23 effective amount available after fees to be transferred to the bank. (This shows the fee is around 7.74% approx deducted)
If you see all the above 3 transactions have very different payment fee percentage deduction. I am unable to understand what is the standard fee percentage PayPal takes and why all my payments having different payment fee percentage deduction. My auditor is confused as how to account for this as all 3 have different commission/fee percentage deduction.
Kindly help me with this and provide a clarification/solution for the same.
Thank you.
Regards,
CourseFab Finance Team.
