The record
Written by software from the 1 report below. The points restate them; where one says why it matters, that is Prism's reading, not a reported fact.
- Government sources indicate that an MDR charge of 0.4 percent will apply to merchant UPI payments over 2,000 rupees starting October 15.
- The GST Council is expected to deliberate on whether this transaction fee should be subject to an 18 percent GST.
- While merchants are responsible for paying this MDR, they will be eligible to claim input tax credit on the GST paid.
- This policy change aims to formalize the taxation of digital payment processing services.
What to watch next
- GST Council meeting scheduled for October 7
- Implementation of the MDR system for merchants starting October 15
Coverage1
1 report
Indian-language1
All filed from India
Named India · New Delhi · GST Council · Ministry of Finance
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