Govt rules out MDR burden on UPI users; GST Council may review 18% tax next month
7 Articles
7 Articles
Learn the truth about 18% GST on UPI. Will there be an additional charge for transactions of Rs 10,000? Understand the full math behind MDR, 0.4% fee, merchant payments above Rs 2,000, and the impact on P2P transactions in this report and video.
India Seeks Review of GST on UPI Merchant Fees
The Indian government hopes the GST Council will review the 18% Goods and Services Tax imposed on merchant discount rates for UPI transactions, according to a government source. The GST Council is scheduled to meet on October 7, though it is unclear whether the issue will be discussed at that meeting. Earlier this month, India’s […]
According to government sources, the Indian government has no intention of extending the October 15 deadline for setting MDR (Merchant Discount Rate) charges on UPI (Unified Payments Interface). This decision comes at a time when the use of digital payments is growing rapidly in India. As such, businesses and customers […]
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