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  • Category: Miscellaneous

    Tax deduction by GOI against Google Adsense Revenue for Internet Advertisement & Trade Fair Services

    I just received a mail from my bank about the complete remittance transaction of Google to my account. For the first time, I found some amounts are deducted from Govt. of India against the Google's Adsense Revenues. The details are given here below:

    Total amount received from Google: Rs. 8,123.90
    Amount Deducted:
    FCY Service Tax: 35.00
    FCY Swatch Bharat Cess: 1.25
    FCY Krishi Kalyan Cess: 1.25
    Total amount credited: 8086.40

    I want to know what this terms FCY means. What is the percentage of Service Tax, Swatch Bharat Cess and Krishi Kalyan Cess as per Govt. of India norms? These taxes/cesses are deducted first time in this month. Do you've the same issue? Please educate us.
  • #572754
    FCY means Foreign Currency Conversion. A service tax is charged on any conversion from one currency to another, both incoming and outgoing w.e.f. 01.06.2015. The rate is as follows -
    1. Amounts up to Rs. 1,00,000 - 0.14 % of the gross amount subject to minimum amount of Rs. 35.
    2. Amounts exceeding Rs. 1,00,000 and up to Rs. 10,00,000 - Rs. 140 and 0.07 % of the gross amount.
    3. Amounts exceeding Rs. 10,00,000 - Rs. 770 and 0.014 % of the gross amount, subject to a maximum of Rs. 7,000.

    Let us encourage each other in sharing knowledge.

  • #572880
    If it was activated since 01.06.2015, then why it was deducted from last month; why not earlier? Even every month I was earning money from freelancing and getting through PayPal and some to my bank account too; but neither any deduction nor any charged against the payments I found.
    Naresh Kumar
    'Every bad situation will have something positive. Even a dead clock shows correct time twice a day.'

  • #572887
    Only the concerned bank can answer the query raised in the response #572880. Often regulations are enacted on certain dates, but its actual implementation takes quite some time. The concerned bank branches cannot implement such systems merely by reading the newspaper or hearing the news on television. They have to wait for receipt of the official communication through their proper channel to make the same effective.
    Let us encourage each other in sharing knowledge.

  • #572889
    I have getting this deduction since the time AdSense started electronic transfer. It might have been a mistake in your case if this amount was not deducted.

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