Gst on instamojo

1. GST on Instamojo
From Startup Scratch
9971504105
startupscratch@gmail.com

2. • Instamojo's GST number
• Name: Instamojo Technologies Pvt Ltd
• GST (provisional number) : 29AADCI1852L1ZA
• Address:
• 3rd floor, Maa Grace, 12, 7th Cross Road,
• Koramangala 1A Block,
• Bangalore - 560034, Karnataka
•
• Please note that this is our provisional GST number, which will be
replaced by the final GST number once available.

3. Who Should Pay GST?
• If you are supplying any kind of goods or services in India above Rs. 20 Lakh of
value, you must register for GST, except in certain limited cases where the taxable
person is to pay GST regardless of whether he has crossed the threshold limit.
• BUSINESS CATEGORIES THAT NEED TO REGISTER FOR GST
• If you fall under any of the following categories, you need to be registered
under the GST Act:
• If you sell on an online marketplace like Flipkart, Amazon, Instamojo Connect
• If you are selling goods or service from one state to another
• If you are required to pay taxes under reverse charge
• If you are supplying goods or services on behalf of a manufacturer/supplier - If
you are an agent.
• If you deduct TDS
• If you are an input service distributor.

4. What Happens If I Do Not File GST?
• If you are required to be registered under GST and do not file by the
due date, you will be charged a penalty with a late fee of Rs 100 per
day upto a maximum of Rs. 5000. All taxes due have to be paid
before filing the return.

5. GST Calculation
• Customer pays you: 1000 (Domestic)
• Instamojo fee: 2% of 1000 + 3 = 23
• GST on Instamojo fee: 18% of 23 = 4.14
• Amount paid out to your bank account: 1000 - (23 + 4.14) = INR 972.86
• This transaction fee is a flat 2% + INR 3 across credit cards, debit cards, and
net banking except for the following cases:
• 1. International Cards - 3% + INR 3
• 2. American Express Cards - 3% + INR 3
• 3. Digital Products hosted on Instamojo - 5% + INR 3
• 4. Wallets (Ola Money, MobiKwik, FreeCharge, Jio Money) - 2% + INR 3

6. Thanks
• From Startup Scratch
• 9971504105
• startupscratch@gmail.com