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No idea of ​​imposing GST on UPI transaction of more than Rs 2,000: Central Government

by Sandhya Hirani
April 19, 2025
2,000 रुपए से ज्यादा के यूपीआई ट्रांजैक्शन पर जीएसटी लगाने का कोई विचार नहीं: केंद्र सरकार

New Delhi, 19 April (IANS). It has been clarified by the Finance Ministry that the government is not considering any proposal to impose Goods and Services Tax (GST) on UPI transactions worth more than Rs 2,000.

The Finance Ministry said, “The claim that the government is considering imposing GST on UPI transactions of more than Rs 2,000, is completely wrong, misleading and unfounded. At present, the government has no such proposal.”

Merchant discount rates (MDRs) are levied on charges related to payment made using a particular instrument.

The Central Board of Direct Taxes (CBDT) has removed the MDR from Person-to-CRINT (PTUM) UPI Transaction through gadget notification of December 30, 2019. This decision of CBDT is effective from January 2020.

It has been said by the ministry that at present, MDR is not imposed on UPI transactions, so GST is not applicable on these transactions.

The government is committed to promoting digital payment through UPI. To support and maintain UPI’s development, an incentive scheme has been launched from FY 2021-22.

The official statement stated that the scheme targets the UPI (PTUM) transaction particularly low -value. Under the scheme, small traders benefit by reducing transaction costs and promoting participation in digital payment and innovation.

In the last few years, the allocation under this scheme includes Rs 1,389 crore for FY 2021-22, Rs 2,210 crore for FY 2022-23 and Rs 3,631 crore for FY 2023-24.

These measures have contributed significantly to India’s strong digital payment ecosystem.

According to the ACI Worldwide Report 2024, India’s participation in Global Real-Time Transaction in 2023 was 49 percent, which shows the strong position of the country as a global leader in digital payment innovation.

The UPI Transaction Value has registered a rapid increase, which has increased from Rs 21.3 lakh crore in FY 2019-20 to Rs 260.56 lakh crore by March 2025.

The statement said that in particular, the PTUM transaction has reached Rs 59.3 lakh crore, which reflects the increasing ‘merchant adoption’ and consumer trust in the digital payment method.

-IANS

SKT/KR

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