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How is GST & TDS calculated?

In case the player has NOT provided the GST and PAN has been provided

  • User has asked for withdraw amount as Rs. 100
  • TDS of 5% will be charged on the withdraw amount, i.e 5% of Rs. 100 = Rs. 5
  • So Rs. 5 will be deducted from the amount withdrawn and rest will be deposited in the user’s bank account
  • So TDS deducted = Rs. 5, amount deposited in user’s account = Rs. 95.

In case the player has NOT provided the GST and PAN has NOT been provided

  • In the above example, if the PAN is not provided, TDS charge is 20%
  • So TDS deducted = Rs. 20, amount deposited in user’s account = Rs.80.

In case the player has provided the GST and PAN both

  • In case the user ask for withdraw amount as Rs.100
  • First the GST part will be removed from the amount
  • At 18% GST, the non-GST amount = Rs. 100/1.18 = Rs 84.75.
  • The GST & non-GST part should make up the total withdrawn amount i.e. Rs. 100, so the GST amount becomes Rs. 100 - Rs. 84.75 = Rs. 15.25.
  • TDS will be calculated ONLY on the NON-GST part, i.e. 5% of RS 84.75 = Rs. 4.24.
  • So, the final TDS deducted for this transaction will be Rs. 4.24 and amount deposited in the user’s bank account will be Rs. 84.75 + Rs. 15.25 - Rs. 4.24 = Rs. 95.76.