Hi,
We are building a marketplace where we would be collecting payments from buyers on behalf of sellers and take a 25% commission and pass on the remaining 75% to the sellers. A payment gateway has approved our model, but I need help regarding service tax, tdr and stuff. The payment gateway company has informed us that they can’t split the money received from the buyer into 2 parts. We would be receiving the entire amount, and then we’ll have to dispatch 75% to the sellers. Are there any tax liabilities issues here ? Also how will service tax here work ?
Siddharth Jaiswal
Try getting the PayuMoney Marketplace Integration.
They’ll help you manage the settlements. https://techcircle.vccircle.com/2013/10/17/payupaisa-launches-automated-payment-settlement-solution-for-marketplaces-online-aggregators/