ESAF Bank INORI RuPay Platinum Credit Card Review 2026: Benefits, Fees & Rewards

GST on fees and charges. This card has no joining or annual fee, so there is no GST on fees to pay. GST at 18% still applies to any interest, late payment fee, cash advance fee, EMI processing fee and the forex markup you incur.

Are the reward points taxable? Points or cashback earned in proportion to your own spending are treated as a post-purchase discount rather than income, so a salaried individual does not pay tax on them. The cashback on this card reduces the cost of what you bought; it is not "other income" in your ITR. Two exceptions matter: benefits received from a business relationship (not from your own spending) can attract TDS at 10% under section 194R where the value exceeds ₹20,000 in a year, and a gift or voucher received from the bank with no link to your spending can be taxable under section 56(2)(x) if total gifts from non-relatives cross ₹50,000 in a year.

Is the annual fee deductible? There is no annual fee on this card, so the question does not arise. Any GST-bearing charges you do incur follow the same rule below.

Foreign spends, TCS and the LRS. The 2.5% markup attracts 18% GST, making it about 2.95% effectively. TCS under the Liberalised Remittance Scheme runs at 20% above ₹10 lakh of remittances in a financial year; international credit card spends have so far been kept outside the LRS pending notification, so no TCS is deducted at the till today. Where TCS is collected on any remittance, it is not a sunk cost — it is creditable against your tax liability and refundable through your ITR.

Spends the tax department can see. Aggregate credit card payments of ₹10 lakh or more in a financial year (₹1 lakh or more if paid in cash) are reported by ESAF Small Finance Bank in the Statement of Financial Transactions and show up in your AIS. That is not a tax by itself, but the spending should be consistent with the income you declare.