As per the Central Government directive, from 15 November 2015 there is new levy of Swachh Bharat Cess @0.5%. With this the effective rate of tax would be 14.5% to include the Swachh Bharat Cess (0.5%). The revised tax will be applicable on all fees and charges that are levied by us. Do approach HSBC PhoneBanking for any clarifications.
All foreign currency transactions through HSBC India are subject to Service Tax. Please Click here for details.