The Union Minister of State (MoS) for Finance Pankaj Chaudhary has clarified in the Rajya Sabha during the Monsoon Session of Parliament that the government does not intend to charge GST on UPI transactions over ₹2,000.
Speaking in the Upper House on July 22, while answering questions the minister clarified speculations that the Finance Ministry is plans to impose goods and service tax (GST) on unified payments interface or UPI transactions that exceed ₹2,000 in value.
“There is no recommendation of levying GST on UPI transactions of over 2000 from the GST Council,” Pankaj Chaudhary stated on July 22, according to an Economic Times report. He added that GST rates and exemptions are decided on the basis of recommendations of the GST Council, which is a Constitutional body comprising of members from both the Centre and States and Union Territories (UTs), it added.
Read more at: Livemint
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