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  • As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.

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Slab Structure To Transfer Money Out Of India

 

Transfer Money Out of India Slab Strucutre

 

Amount of currency exchanged Value of Supply on which GST will be charged GST on Value of Supply (for rate@ 18%*)
Up to INR 100,000 1% of the INR Value OR Rs. 250 whichever is more INR 180 (For exchange amount of INR 1,00,000)
From INR 100,001 to INR 10,00,000 Rs. 1000 + 0.5 % on INR Value exceeding 1,00,000 INR 990 (For exchange amount of INR 10,00,000)
Above INR 10,00,000 Rs. 5500 + 0.1 % on INR Value exceeding 10,00,000 OR Rs. 60,000 whichever is less INR 1170 (For exchange amount of INR 20,00,000)