When creators sell something on Simply Cue, they deal with two types of fees that impact how much they earn: the platform fee and the payment processing fee.
Platform Fee: Simply Cue charges a fee of 8% on each transaction. This fee is taken from the total amount received from the buyer.
Payment Gateway Fee: This fee is what the Payment Gateway Provider charges for processing transactions securely. Creators have two choices here:
If creators make buyers pay the payment gateway fee, it's added to the product's price.
If creators bear the fee themselves, it's subtracted separately from their earnings.
Example Calculation:
Imagine a creator sells a digital product for Rs 100/-
Total earnings for the Creator if buyer pays payment gateway fee: Here’s how the earnings would be calculated:
Total earnings = amount paid by the buyer (product price + payment gateway fee) - platform fee - payment gateway charges - withholding tax (TCS)*
Total earnings for the Creator if Creator handles payment gateway fee: Here’s how the earnings would be calculated:
Total earnings = amount paid by the buyer (product price) - platform fee - payment gateway charges - withholding tax (TCS)*
*As per the Tax Collected at Source (TCS) provisions under GST, creators will receive payment after a deduction of TCS at 1%. This is applicable to all GST registered creators. Simply Cue will collect a TCS of 1% and remit the collected TCS to the government within 10 days following the end of the month in which the amount was collected, by filing GSTR 8.
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