The GST Council is set to examine whether merchant fees linked to UPI transactions above Rs 2,000 should attract an 18% goods and services tax, according to a report. The proposal comes alongside a government plan to introduce a 0.4% merchant discount rate from October 15, capped at Rs 300, with merchants eligible to claim input tax credit on the GST paid.
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"GST Council to Weigh 18% Levy on UPI Merchant Fees as October 7 Meet Nears"
The GST Council is set to examine whether merchant fees linked to UPI transactions above Rs 2,000 should attract an 18% goods and services tax, according to a report. The proposal comes alongside a government plan to introduce a 0.4% merchant discount rate from October 15, capped at Rs 300, with merchants eligible to claim input tax credit on the GST paid.
GST Council to Weigh 18% Levy on UPI Merchant Fees as October 7 Meet Nears
R
RDU Global Wire
BFSI & Fintech Desk
New Delhi, India Just now (10:40 AM IST)•5 min read
The GST Council is set to examine whether merchant fees linked to UPI transactions above Rs 2,000 should attract an 18% goods and services tax, according to a report. The proposal comes alongside a government plan to introduce a 0.4% merchant discount rate from October 15, capped at Rs 300, with merchants eligible to claim input tax credit on the GST paid.
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