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No Plan To Levy GST On UPI Transactions Over Rs 2,000: Finance Ministry

The Finance Ministry on Friday made it clear that the government is not considering any proposal to levy Goods and Services Tax (GST) on UPI transactions over Rs 2,000.
The Finance Ministry has clarified that there is no proposal to impose a 1.1% interchange fee on UPI transactions exceeding Rs 2,000, refuting media reports suggesting such a move. The ministry emphasized that UPI transactions, including those via prepaid payment instruments like wallets and cards, will remain free from any merchant discount rate (MDR) charges, ensuring that the cost of UPI transactions is not passed on to customers or merchants. This statement was made to dispel any confusion and reassure the public that the government aims to keep digital payment methods accessible and cost-free.

Read the Full NDTV Article at:
https://www.ndtv.com/india-news/no-plan-to-levy-gst-on-upi-transactions-over-rs-2-000-finance-ministry-8198075