Fees and taxes are applicable to payouts made through RazorpayX Lite as well as Current Account. However, the billing cycle and structure varies.
When you make a payout using
For a payout of ₹10,000, the fees applicable is ₹5 and the tax on this is ₹0.90.
When you make a payout ₹10,000 from RazorpayX Lite:
- ₹10,005.90 (₹10,000+ ₹5 + ₹0.90) is deducted from RazorpayX Lite balance.
- ₹10,000 is credited to your contact.
- ₹5 (fees) is credited to Razorpay.
- ₹0.90 (tax) collected by the government.
In case of a
When you make a payout from your
- Transactions carried out from 1st to 3rd of a month, fees is deducted on the 4th.
- Transactions carried out from 4th to 6th of a month, fees is deducted on the 7th.
- For transactions carried out from 28th to 30th/31st, fees is deducted on the 1st of the following month.
The invoice for Payout Fees deduction is generated on the 1st of every month. You can download the same from the RazorpayX Dashboard under My Accounts & Settings → Billing. Scroll down to the Monthly Invoice section and click Download Invoice & Report for the required month.
Ensure to maintain a sufficient balance at all times for uninterrupted transactions.
Fee and tax for reversals appear with a minus symbol. This is to indicate they are returned to you and also to help with reconciliation. Reversals are calculated as reversals,
amount = (original payout amount + fees + tax)..