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GST ON UPI TRANSACTIONS
NPCI says GST on UPI MDR will not burden small merchantsNPCI states GST on UPI Merchant Discount Rate is not a burden. Transactions under two thousand rupees have zero MDR and no GST. Over ninety...- How will MDR on UPI affect your mutual fund investments? Will AMCs and brokers pass on the costs to users?The introduction of a 0.02% merchant discount rate will impact specific mutual fund and broking transaction payments. One-time investments ...
- MDR rollout will be monitored to protect usersTax issues Levy of goods & services tax on MDR can be taken up by GST Council, ITC may be used by merchants.
- Finance Ministry rejects US pressure claims over new UPI MDR, says RuPay has no special edgeIndia's Finance Ministry rejects claims of US influence on UPI payment charges. The new framework prioritizes RuPay credit cards for UPI tr...
- UPI MDR could cost 47.2 bps with GST for merchantsThe new framework introduces a 0.4% MDR on person-to-merchant UPI transactions above Rs 2,000, capped at Rs 300 on transactions of Rs 75,00...
- FMCG distributors seek zero-MDR for UPI transactions; write to PMThe association urged the government to address the implications of calculating the merchant discount rate on gross payments and resulting ...
- UPI MDR from October 15: Govt plans daily monitoring to stop merchants passing 0.4% fee to customersThe government is in negotiations with payment aggregators over new UPI transaction fees, ensuring that these charges will not be imposed o...
- FinMin allays fears of increase in cash transactions post UPI MDR levy: SourcesThe Finance Ministry anticipates no rise in cash transactions following the UPI MDR implementation. Only a small percentage of total UPI vo...
- MDR on UPI not imposed due to external pressure, say govt sourcesOfficials clarified that there is no separate GST levied on MDR charges. While GST will apply to MDR on UPI transactions, businesses will b...
- UPI charges from October 15: FAQs on who will pay 0.4% MDR and what consumers, small vendors & large merchants need to knowUPI Payment: UPI transactions of up to Rs 2,000 will continue to be free for users. A new Merchant Discount Rate (MDR) will be introduced f...
- BharatPe backs new UPI MDR framework, distances itself from former CEO Ashneer Grover’s criticismBharatPe supports the new UPI merchant transaction framework. The company clarified co-founder Ashneer Grover's views are his own. This new...
- Attempt to divert attention from backlash over UPI tax: Congress on govt's Parl panel claimsCongress denies supporting a parliamentary committee's report on UPI payment fees. The party accuses the government of diversion after a si...
- Decoding MDR’s impact; EV bikes’ policy change sparks debateHappy Thursday! The return of MDR is set to change UPI's market share game. This and more in today's ETtech Morning Dispatch.
- New UPI MDR Explained: Impact on mutual funds, brokers & investorsThe implementation of a new 0.02% merchant discount rate will influence certain UPI transactions, including one-time contributions to mutua...
- UPI MDR could create Rs 27,000 crore revenue pool by FY28: BernsteinA 40-basis-point MDR on UPI transactions could create a large revenue pool. Issuing banks and UPI apps will receive substantial portions of...
- UPI MDR may attract 18% GST; eligible merchants can claim input tax creditEffective October 15, UPI payments to merchants (P2M) above Rs 2,000 will attract a 0.4% merchant discount rate with an overall cap of Rs 3...
- UPI MDR above Rs 2,000 to attract 18% GST, merchants can claim input tax creditUPI payments to merchants above two thousand rupees will attract a zero point four percent merchant discount rate. Merchants will pay eight...
- Delhi traders plan cash payments push to avoid fee on UPI paymentsTraders will now encourage cash payments to avoid new UPI transaction fees. A 0.4 percent charge applies to UPI transactions exceeding two ...
- From UPI to cash? Retailers warn new MDR could hit small merchants ahead of festive seasonRetailers Association of India warns new UPI fees could reverse digital payment gains. Small merchants may shift transactions back to cash,...
- SBI developing solution to use UPI data for checking creditworthiness of small bizState Bank of India is developing a UPI data solution for small businesses. This initiative aims to assess creditworthiness without requiri...
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