The government has issued a clarification regarding Goods and Services Tax. It states that there will be no GST levied on UPI transactions exceeding Rs 2,000. Reports suggesting such a levy are false and misleading. Currently, no Merchant Discount Rate is charged on UPI transactions. Therefore, GST is not applicable. UPI transactions have significantly increased over the years. Post navigation At $677.8 billion, forex reserves rise for 6th straight week Made-in-India electronic products recognised globally, says Vaishnaw
