Commission & Payout Policy
Fee Structures, Statutory Tax Withholdings (TDS/TCS), and Disbursement Timelines on Quick (quicksin.in)
FINANCIAL TRANSPARENCY COMMITMENT:
Quick operates on a transparent fee schedule. All merchant earnings are calculated after deducting applicable marketplace commission, fixed closing charges, payment gateway fees, and statutory taxes governed by Indian financial and Goods & Services Tax laws.
1Marketplace Fee Structure Breakdown
For every successful order completed on Quick, the following fee components apply:
A. Category Referral Commission
A percentage fee charged on the item price (excl. GST). Rates vary by category:
- Electronics & Appliances: 3% – 8%
- Fashion & Apparel: 10% – 15%
- Home, Kitchen & Living: 8% – 12%
- Beauty & Personal Care: 6% – 10%
- Books & Stationery: 5% – 8%
B. Fixed Closing Fee
A nominal fee charged per successfully delivered order item based on transaction slab:
- Order value ₹0 – ₹250: ₹5
- Order value ₹251 – ₹500: ₹10
- Order value ₹501 – ₹1,000: ₹15
- Order value above ₹1,000: ₹25
C. Payment Gateway Fee
A technology processing fee of 2.0% + GST on the total customer checkout amount to cover payment gateway card/UPI/netbanking processing charges.
2Mandatory Statutory Tax Deductions (TDS & TCS)
Under Indian tax regulations governing e-commerce marketplace platforms, Quick is legally mandated to perform the following statutory deductions:
- TDS under Income Tax Act (Section 194-O): Quick shall deduct 1.0% as Income Tax TDS on the gross sales amount of goods sold. Form 16A TDS certificates will be issued quarterly to enable sellers to claim tax credit during income tax filing.
- TCS under GST (Section 52 of CGST Act): Quick shall collect 1.0% (0.5% CGST + 0.5% SGST or 1.0% IGST) as Tax Collected at Source on net taxable supplies. TCS data is submitted monthly in Form GSTR-8 and auto-populates in the seller’s GST portal for Input Tax Credit (ITC) utilization.
3Seller Settlement Timeline & Payout Schedule
Settlement disbursements are executed via direct National Electronic Funds Transfer (NEFT) or Real Time Gross Settlement (RTGS) to your verified bank account:
- Settlement Window (T+7 Days): Earnings from completed orders are eligible for settlement 7 business days post successful customer delivery, provided the customer return window has expired without return requests.
- Weekly Payout Frequency: Settlements are processed every Tuesday & Friday. Detailed payout statements specifying order-wise commission, tax deductions, and net amount credited are accessible in the Seller Portal under Payout Reports.
4Payout Deductions, Holds & Penalties
Quick reserves the right to make necessary adjustments to current or future payout disbursements in the following scenarios:
- Customer Returns & Refunds: Reversal of sale proceeds for returned or refunded items.
- Stockout Penalties: A seller cancellation penalty fee of 5% of order value (max ₹500) for orders cancelled by the seller post-confirmation.
- Reverse Logistics Fees: Reverse courier shipping charges deducted for defective or wrong item returns attributable to seller error.
- Dispute Hold Reserve: Temporary withholding of funds during active fraud investigations, legal disputes, or pending document verification.
Have queries regarding payout statements or tax certificates?
Reach out to our Merchant Accounts Desk at support@quicksin.in