Today, in the era of this digitization, people are using less cash and UPI payment more. It is not that UPI payment is being made only in urban areas but it is also being used in rural areas. Meanwhile, a rumor spread on social media has worried the UPI payments. However, the government clarified that this oneRumor Is, such a rule was not implemented by the government. Actually, today in the era of social mediaRumor Can give it to Many such reports are seen, which creates confusion among the common people.
Actually, the matter of taxing more than Rs 2,000 payment through UPI payment is in discussion. Going on social mediaRumor According to it, if a person pays more than 2,000 thousand rupees through UPI, then he will have to pay tax, that is, GST will have to be paid. ThisRumor From common UPI users to all traders, there was a stir. However thisRumor But the government has stopped it by giving clarification. The central government denied this runoff and said that such reports are completely false and misleading.
Government gave clarification on X
The Central Indirect Taxes and Fee Board (CBIC) has clarified the government’s vote on X to stop this runoff and remove the confusion arising between the people. The Central Indirect Taxes and Customs Board tweeted that “the claims of imposing GST on UPI transactions are baseless. Since January 2020, CBDT has removed MDR on P2M UPI transactions, due to which GST is not implemented on them. The government has launched an encouraging scheme to promote UPI from 2021-22, under which FY 2021-22 has launched an encouraging plan, under which FY 2023-631 crore till 2023-24 has been Rs 3,631 crore. Are allocated. ” Apart from this, CBIC has shared many information and figures related to UPI on X.
The Finance Ministry clarified that MDR is not currently applicable on UPI payment. In such a situation, GST is also valid for these transactions. He further said that the government is committed to promoting digital payment through UPI. Incentive scheme is being launched from FY 2021-22 for the development and promotion of UPI. Under this scheme, less amount of transactions are given more benefits. This includes reducing transaction costs, participation in UPI payment and promoting innovation. This benefits small traders.
