Credit Card Swipe in Current Account

596 views 1 replies
Dear Sir,
I am registered in gst. I have a credit card swipe machine on my retail outlet which is linked to my current account of the firm registered in gst. I swiped credit card of an individual on my machine for 1 lac rupees. And returned the same amount within 30 days to the same person through my account to his credit card or his saving bank account. Would this transaction fall under sale ? Will i have to pay gst or income tax on this entry ? Please clarify.
And what's the effect it has on that individual who was the card owner ?
Is there any limit of these type of transactions w.r.t time or money ?
Replies (1)
Dear Sir, for your above concern you need to pay fees.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 12 March 2026
Customer Relationship Executive

TAXLET

Calicut

B.Com

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details