Fee Structure
How Are Payouts Calculated ?
Settlement Amount
credited to your bank account within 7-10 business days of dispatch
= Deduction of :
Your payment will be processed within 7-10 working days after the date of dispatch of the product conditionally that your products are non refundable/non returnable. In case your products falls in categories of refundable / returnable goods then the payment cycle will start from day of return end.
All the above fee is calculated on seller’s selling price and not on base price.
Please note that the payment is made after deducting the sum of:
• SpareVillage Market Place Commission
• Fixed Fee
• Shipping Fee
• GST on the Above Services
• TDS on Base Price
• TCS on Base Price
1.Tax deducted at source (TDS) u/s 194- O mandates e-commerce companies to deduct TDS on sales of goods & services through their platform. This is effective from October1,2020. The rate of TDS applicable will be 0.75% (of base sale price) from October 1, 2020.
2. Once the product is delivered to the customer, the payment will get processed within 7 working days from the date of delivery of the product.
3. Payment is transferred every day except for bank holidays and it is processed during the banking hours only .
TDS and TCS
Tax deducted at source (TDS) u/s 194-O mandates e-commerce companies to deduct TDS on sales of goods and services through their platform. The rate of TDS applicable is 0.75% ( of the base selling price) from October 1 2020. However in cases where in the PAN is unavailable or invalid, TDS at 5% will be applicable.
Penalties
In order to ensure smooth operations and uphold service standards, it is important to provide sellers with a clear understanding of potential penalty scenarios. One such scenario is when a seller experiences a delay in dispatching an order from the committed time(SLA). In this case, the seller may incur a penalty of Rs.100 or 10% of order value Whichever is heigher. This penalty serves as a reminder to sellers to prioritize timely order fulfillment and maintain customer satisfaction. By outlining these penalty scenarios, we aim to create a transparent and accountable environment that promotes efficient business practices.
%201.874bb219.webp&w=32&q=75){kind=small}