Seller Wallet and Settlement
Whenever a customer places an order on the Platform and successfully completes payment, the order amount is received by LX INDIA on your behalf and recorded in your Seller Wallet.
For each transaction, the full order value is reflected in your Seller Wallet. From this amount, the following amounts are accounted for and deducted, as applicable:
- Commission Fee: the commissione fee applicable to the specific product/category, as set out under LX INDIA’s Commission Policy. The commission charged is inclusive of payment processing / payment gateway charges.
- GST on Commission (18%): GST at the applicable rate (currently 18%) charged only on the commission amount, as per tax law;
- TCS (Tax Collected at Source): where applicable under law, along with any other statutory deductions.
After accounting for the above deductions, the net amount that may eventually become payable to you is reflected in your Seller Dashboard as a provisional earning. This is shown so that you have a clear and real-time view of your expected receivables. However, this entry is only an accounting reflection and does not mean that the amount is immediately due for transfer. Settlement shall be processed only after the order is delivered and the applicable return/replacement window has expired (or earlier where permitted under Platform policies), and is subject to adjustments for returns, refunds, chargebacks, penalties, and other recoveries in accordance with Platform policies.
