UPI MDR Charges To Attract 18% GST; Merchants Can Claim Input Tax Credit On Eligible Transactions
The Merchant Discount Rate (MDR) introduced on select UPI merchant transactions will be subject to 18% GST, a Central Board of Indirect Taxes and Customs (CBIC) official was cited as saying as per a report by NDTV Profit. The tax will be calculated only on the MDR amount and not on the overall value of the UPI payment. Under the new framework, person-to-merchant UPI payments above Rs 2,000 will…
We haven't written up this one. Free Press Journal has the full story — the link below goes straight to it.
