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The finance ministry has rejected the rumours of levy of goods and services tax (GST) on UPI transactions above INR 2,000.
“The claims that the government is considering levying GST on UPI transactions over INR 2,000 are completely false, misleading, and without any basis. Currently, there is no such proposal before the government,” the ministry said in a statement.
Currently, GST is only applicable on charges like Merchant Discount Rate (MDR) for certain payment instruments.
“Since…
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The finance ministry has rejected the rumours of levy of goods and services tax (GST) on UPI transactions above INR 2,000.
“The claims that the government is considering levying GST on UPI transactions over INR 2,000 are completely false, misleading, and without any basis. Currently, there is no such proposal before the government,” the ministry said in a statement.
Currently, GST is only applicable on charges like Merchant Discount Rate (MDR) for certain payment instruments.
“Since…
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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