We wanted to inform you that from 6th February 2020 , the Gigsy platform will be introducing GST as a component of the pricing. While this will not affect the majority of creators in a significant way, there are some changes you need to be aware of:
- The next time you login, you will need to either confirm that you DO NOT have a GST number OR enter your GSTIN. You will not be able to create or sell any products until you have confirmed your choice.
- The pricing of your products and services will be slightly modified to account for GST. You should double check the pricing of your offerings to make sure everything is in order.
How does the pricing change?
In case you HAVE GST, this is how the pricing changes:
Let’s say that you set the price of an ebook at ₹100, the display price (including payment gateway charges and your GST at 18%) is: ₹123. Correspondingly, when a sale is completed, the amount credited to your account is: ₹95 + ₹18 = ₹113
In case you DO NOT HAVE GST, this is how the pricing changes:
Let’s say that you set the price of an ebook at ₹100, the display price (including payment gateway charges and our GST at 18%) is: ₹105. Correspondingly, when a sale is completed, the amount credited to your account is: ₹95
In either scenario, once your money has been paid out, you will receive a payout report with the details of the payout and its breakup – including GST details.
Please ensure that you follow the above recommendations to avoid any interruption to your monetization efforts. If you have any questions, please reach out to us at firstname.lastname@example.org. We are here to help.
With love from Bengaluru,
Vikram from Team Gigsy