Company law

OIDAR for Fintech Tools: Why Payment & Forex Platforms Must Recheck GST Status?

OIDAR for Fintech Tools: Why Payment & Forex Platforms Must Recheck GST Status?

Introduction

At Ebizfiling, we help businesses understand GST rules in simple language. Many payment gateways now deal with cross-border users and digital service flows. These operating models can trigger OIDAR rules and directly impact GST status. Fintech tools and forex platforms must review their position early to avoid notices, penalties, or tax gaps later.

 

Summary

  • OIDAR rules now apply to a wider range of digital services used by Indian customers.
  • Payment gateways and forex platforms may fall under OIDAR when services are automated.
  • GST can apply even if the fintech company operates from outside India.
  • Foreign service providers serving Indian users must register and file GSTR-5A.
  • Rechecking GST status helps businesses avoid penalties and incorrect tax positions.

Why OIDAR Matters for Payment Gateways Today?   

The GST law defines OIDAR as digital services delivered online with minimal physical contact. After the 2023 change, the law removed the phrase related to automation. This widened the scope and covered more fintech tools that operate through dashboards, APIs, and automated payment flows. Payment gateways handle recurring billing, currency conversion, card token systems, settlement dashboards, wallet movement, and verification tools. All these features fall under services delivered online. If the user is in India, the place of supply becomes India. This is why payment gateways must now review whether they fall under OIDAR.

Foreign fintech operators that serve Indian users do not get turnover exemption. GST applies from the first rupee of revenue. They must register under the simplified scheme on www.gst.gov.in and file GSTR 5A each month.Forex platforms also fall under this rule when they offer online currency tools, conversion engines, or algorithm driven systems. Even advisory dashboards or rate comparison tools may fall under OIDAR if they are delivered online through automated panels.

How OIDAR Applies to Fintech Tools    ?

OIDAR applies to any service that users access online, relies on internet delivery, does not involve any physical component, and is consumed by an Indian recipient. Most fintech tools fit this definition because they operate through online settlement reports, currency conversion dashboards, automated payment routing flows, API based verification systems, and cloud ledger tools. These features show that the service is delivered digitally, which meets the OIDAR test for place of supply. As a result, payment gateways and forex platforms that serve Indian users must review their GST registration needs and update their compliance process accordingly.

How Do Payment Gateways and Forex Platforms Check Their GST Status?

To avoid risk, fintech companies should use a clear approach.

Step 1: Identify all digital services  

List all online features. Note which actions rely on automation, API, cloud, or dashboard access.

Step 2: Determine Indian users  

Check how many users, merchants, or clients operate from India. Even one paying user can trigger GST.

Step 3: Check if the provider is foreign  

Foreign entities supplying OIDAR services to India must register under Form GST REG 10 through www.gst.gov.in.

Step 4: Check tax responsibility  

  • For B2C users the foreign provider must collect IGST at 18 percent.

  • For B2B users, the recipient pays under reverse charge, but the foreign provider must still issue correct invoices.

Step 5: File monthly returns  

Foreign OIDAR suppliers must file GSTR 5A. This return reports all inward supplies to Indian recipients.

GST Impact for Fintech OIDAR Services   

Category

India Based Provider

Foreign Provider

User Type

B2B or B2C

B2B or B2C

GST Trigger

Turnover above 20L

First rupee of revenue

Registration Form

REG 01

REG 10

Return Type

GSTR 1 and GSTR 3B

GSTR 5A

Tax Rate

18 percent

18 percent

Collection Responsibility

Provider

Provider for B2C and reverse charge for B2B

This table helps payment gateways understand how GST varies based on location and user type.

How Ebizfiling Helps You Avoid OIDAR GST Risks  ?

  • We review your fintech model and identify which services fall under OIDAR based on actual user flow and delivery mode.

  • We check your Indian user base and guide you on whether GST registration is needed, including REG 10 for foreign providers.

  • We map your service features with GST rules and help you understand tax responsibility for both B2B and B2C users.

  • We assist you with monthly compliance, including preparation and filing of GSTR 5A for foreign OIDAR suppliers.

  • We help you set up proper invoicing, IGST collection, and documentation so you avoid penalties and tax gaps.

  • We provide ongoing support so your payment gateway or forex platform stays compliant as your business scales.

Conclusion   

Payment gateways and forex platforms must now review their GST status under OIDAR rules. The law expanded the OIDAR scope and placed tax responsibility on digital service providers. A correct recheck helps fintech tools stay compliant and avoid risk. Ebizfiling supports companies in understanding their GST position and meeting all compliance needs with clarity.

Suggested Read :

OIDAR Compliance Roadmap for Foreign Startups

All About the Key Features of OIDAR Services

GST Registration for OIDAR Service Providers in India

GST Registration for Special Economic Zone Units and Developers

FAQs

1. Why should payment gateways check OIDAR rules again?

Payment gateways offer digital services that reach Indian users. After the 2023 changes, more digital services fall under OIDAR, and reviewing applicability helps avoid incorrect GST positions.

2. Do forex platforms fall under OIDAR?

Yes, forex platforms may fall under OIDAR because they use online dashboards, conversion tools, rate engines, and automated features accessed by Indian users.

3. Does server location change OIDAR liability?

No, server location does not affect OIDAR liability. GST depends on the location of the service recipient, and OIDAR applies if the user is located in India.

4. Do foreign fintech companies get GST exemption?

No, foreign OIDAR suppliers do not get any GST exemption. They must register under GST from the first rupee without any threshold limit.

5. What return must a foreign OIDAR provider file?

A foreign OIDAR provider must file GSTR 5A every month on the GST portal and report all digital supplies made to Indian users.

6. How does GST apply for B2B users?

For Indian GST-registered recipients, GST is paid under the reverse charge mechanism, though the foreign supplier must still issue proper invoices.

7. How does GST apply for B2C users?

For B2C supplies, the foreign OIDAR provider must collect 18 percent IGST from Indian users and pay it to the government through GSTR 5A.

8. What happens if a fintech tool does not comply with OIDAR rules?

Non-compliance or wrong classification can lead to GST notices, penalties, and interest on unpaid tax, as authorities have increased scrutiny on foreign digital service providers.

9. Can a fintech app argue that human support removes the OIDAR tag?

No, after the 2023 amendments, the presence of human support does not remove OIDAR classification. The service is identified based on its automated delivery.

10. How can Ebizfiling help fintech platforms with OIDAR compliance?

Ebizfiling helps fintech tools review GST applicability, assess OIDAR impact, handle REG-10 registration, file GSTR 5A, and maintain compliant GST records for Indian operations.

Steffy A

Steffy Alvin is a Content Writer at Ebizfiling who turned her passion for writing into a full-time career. She holds a Bachelor's degree in English Literature from MS University, Baroda, and later pursued her post-graduation in Journalism and Mass Communication from the same university. With a strong command of both content writing and copywriting, Steffy enjoys creating simple, clear, and engaging content that helps readers understand complex topics with ease. Outside of work, Steffy spends her time journaling, writing poetry, capturing photos, and shooting videos. She is also an active digital creator.

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