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GST IMPLICATIONS FOR MERCHANTS
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...- Fino Payments Bank denies GST evasion, rejects betting linksFino Payments Bank said it has not evaded GST or promoted betting after its MD & CEO Rishi Gupta was arrested by the Directorate General of...
- Fino Payments Bank CEO arrest rattles fintech industry; Payments Council writes to FMThe Payments Council of India (PCI), which represents digital payments companies, has written to finance minister Nirmala Sitharaman seekin...
- Fino Payments Bank CEO Arrested: FM Sitharaman to 'check' GST evasion caseFinance Minister Nirmala Sitharaman will investigate the arrest of Fino Payment Bank CEO Rishi Gupta. Gupta was apprehended by GST authorit...
- India’s growth momentum strengthens on festive demand, resilient consumption: RBI BulletinIndia's economy accelerated in October, driven by strong festive spending, robust urban and rural consumption, and GST rate cuts. Despite e...
- How Tilaknagar Industries' name came up in Andhra liquor scamTilaknagar Industries is facing scrutiny as Andhra Pradesh's liquor scam chargesheet implicated the company in an alleged kickbacks case. T...
- Bengaluru street vendors threaten three-day protest against GST notices on UPI paymentsMilk and milk-based products will not be sold on July 23 and 24, even as small traders will conduct business wearing a black badge. Per dep...
- Unexpected taxes: Are small merchants in India rejecting UPI due to GST overreach?Small merchants in India are rejecting UPI payments. They prefer cash due to GST concerns. The govt uses UPI data to levy GST. Merchants fe...
- RBI e-rupee: How to use central bank digital currencyThe e-rupee—India’s central bank digital currency (CBDC)—is issued in the same denominations as coins and bank notes. Users may transact wi...
- Transaction cost on Rupay credit card to rise for these merchants as interchange fees for select categories go up starting May 1, states NPCIStarting May 1, 2025, NPCI is set to increase interchange fees for Rupay credit cards, affecting both domestic and international transactio...
- New India CEO to cut Byju’s down to size; eGaming cos term GST demand “retrospective”Byju’s new India CEO is setting about cleaning house with no stone unturned. Within a week of taking over, Arjun Mohan is planning to merge...
- Retro amendment clears key GST doubt, but opens door for further litigationThe Finance Bill proposes to do away with GST on merchant trade, in-bond sale and high sea sales. But by not refunding the tax collected un...
- Budget 2022-23: Crypto startups seek tax clarity, fintech firms want sopsThe cryptocurrency space, which has been in the spotlight over the past year, has been suffering due to the lack of regulations and clarity...
- RBI’s auto debit rule could cause tax woes for fintech startupsDue to RBI’s new auto debit rules, fintech startups run the risk of attracting a 2% equalisation levy as well as additional GST at 18% on p...
- Budget 2021 Expectations: What India’s fintech industry wantsIndustry experts said reforms to further the country’s financial inclusion mandate through effective use of technology could be expected fr...
- Nearly derailed by demonetisation and GST, Power2SME hits reset buttonThere is no question of hunkering down and waiting for the worst to pass, according to the founder. An IPO is still the goal, except that t...
- Raising of cap on cess to have more impact on SUV side: Ankit Merchant, KR Choksey"SUV is a market which is not very price sensitive so even though there is rise in prices due to the cess, I believe the demand is not like...
- Sun shines for Cloud, but GST can be pivotal for MicrosoftThere is a huge focus on the entrepreneurial energy in the small and medium businesses. I think the biggest driver for me is the digital tr...
- GST: How Startups have prepared themselves for the new tax regimeHere’s a look at some of the system changes that have been made and the pre-GST rollout challenges that these companies are gearing up for
- Bharti-MTN deal has to comply with laws: FMPranab Mukherjee said the govt is, in-principle, in favour of the Bharti-MTN deal, but legal implications of the transaction will need to b...
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