As stipulated by the Government of India, any conversion from one currency to another - sale, encashment & remittance will be charged a GST/SGST on the gross amount of currency exchanged as per the following slabs:
- 0.18% of the gross amount of currency exchanged for an amount up to Rs 100,000, subject to the minimum amount of Rs 45
- Rs 180 and 0.09% of the gross amount of currency exchanged for an amount of rupees exceeding Rs 100,000 and up to Rs 10,00,000
- Rs 990 and 0.018 % of the gross amount of currency exchanged for an amount of rupees exceeding Rs 10,00,000, subject to a maximum of Rs.10,800/-