To maintain transparency and ensure clarity for our users, we have developed the following policy regarding payment gateway charges for subscriptions on TheBookNotes.in. This policy covers subscription costs, GST, and Razorpay payment gateway charges.
1. Subscription Pricing (Inclusive of Taxes)
- ₹399
- ₹499
- ₹599
- ₹699
- ₹999
2. Deductions Applied
- GST (Goods and Services Tax):
- 18% of the subscription cost is deducted as GST.
- Payment Gateway Charges (Razorpay):
- Razorpay charges 2% + ₹3 per transaction. This includes a fixed fee per transaction and a percentage-based fee.
3. Net Revenue Calculation per Subscription
The net revenue received per subscription after the deduction of GST and Razorpay payment gateway charges is as follows:
| Subscription Price | GST (18%) | Gateway Charges (2% + ₹3) | Net Revenue |
|---|---|---|---|
| ₹399 | ₹71.82 | ₹11.97 | ₹315.21 |
| ₹499 | ₹89.82 | ₹13.97 | ₹395.21 |
| ₹599 | ₹107.82 | ₹15.97 | ₹475.21 |
| ₹699 | ₹125.82 | ₹17.97 | ₹555.21 |
| ₹999 | ₹179.82 | ₹21.97 | ₹797.21 |
4. Pricing Justification
- Clear and Transparent Pricing: The subscription cost is clear and does not change for the customer, with all deductions handled internally.
- GST Compliance: The 18% GST is applied as per the applicable tax rates, ensuring that the service complies with government tax regulations.
- Gateway Charges: Razorpay’s 2% + ₹3 per transaction is a standard fee structure, which ensures secure and hassle-free payments for all customers.
- Operational Efficiency: This pricing ensures that the platform maintains profitability while offering a competitive and affordable pricing structure to students.
5. Review and Updates
- The pricing policy, including the payment gateway charges, will be reviewed periodically (quarterly) to accommodate any changes in the payment gateway fees, GST rates, or any other relevant regulations.
- Updates to the policy will be communicated through the website’s “Terms and Conditions” section, and users will be notified as necessary.