GST on UPI MDR won’t burden small merchants, clarifies NPCI
NPCI has refuted claims that GST on UPI MDR will burden small merchants, stating the allegations are incorrect. It clarified that MDR only applies to P2M transactions over Rs 2,000, meaning over 96% of UPI merchant payments remain unaffected. The National Payments Corporation of India clarified that allegations regarding Goods and Services Tax (GST) on … Read more