Karbon Forex uses international banking partners along with global payment networks such as SWIFT, ACH, and SEPA to conduct outward remittances on behalf of our customers.

No, Karbon Forex does not operate as a payment gateway, we specialize in conducting business inward and outward remittances. This helps keep our costs lower than payment gateways.

Karbon Forex charges low, transparent fees of up to 1%.

Our fees as listed do not include GST.

To initiate an outward remittance, you will need some of the following basic documents:Company PANGST certificateID verification for the signatoryWe ensure a smooth onboarding process with continuous support.

We process all outward remittances from India within 1-2 business days after we onboard your account.

Currently, we support outward remittances in 30+ currencies.

Absolutely! Karbon's outward remittance solution makes it easy to pay contractors anywhere in the world.

No. You may leave money in your virtual Karbon account for up to 60 days absolutely free.

Karbon Forex has partnered with JP Morgan, one of the world's largest and most reliable banks.

Yes, sole proprietors can use Karbon’s outward remittance services, provided they have the necessary documentation, including GST or Shop Establishment certificate.

Yes, providing an invoice is necessary for outward remittances.

Yes, a GST certificate is required for outward remittance when transferring funds for business purposes. This helps ensure compliance with Indian tax regulations

You can track your outward remittance using Karbon’s FX dashboard. We also send regular notifications via email and WhatsApp regarding payment updates. After an outward remittance is completed, a SWIFT copy is provided which serves as a formal confirmation.

According to RBI guidelines, transactions not covered under the Liberalised Remittance Scheme or Small Value Remittances will require forms 15CA and 15CB for tax compliance. There can be exceptions, please get in touch with us to learn more.

Under the Foreign Exchange Management Act (FEMA) of 1999, certain transactions are not permitted for outward remittance, including:
Funds from lottery winnings or from racing or similar hobbies.
Purchases of lottery tickets, banned magazines, football pools, and sweepstakes.
Export commission payments for equity in overseas ventures.
Export commission payments under the Rupee State Credit Route, except for up to 10% for tea and tobacco.

For transactions less than 7 Lakhs, there is no tax liability. However, for transactions above 7 Lakhs, TCS is deducted at the rate of 5%. There are various regulations governing the TCS rate, please consult with us or refer to the latest RBI guidelines.