The record
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- The National Payments Corporation of India states that MDR charges apply only to merchant payments exceeding 2,000 rupees.
- A 0.4% MDR will be levied on these specific high-value transactions, with an 18% GST applied to the service fee rather than the total transaction value.
- Most UPI transactions under 2,000 rupees remain exempt from these MDR charges.
- GST-registered merchants can claim input tax credit on the MDR fees to offset costs.
What to watch next
- Future impact on businesses dealing in tax-free goods and services.
- Total annual GST collection generated from MDR fees.
- Evolving volume of high-value P2M transactions.
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All filed from India
Named India · National Payments Corporation of India
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