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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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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)

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