The government has taken a massive choice for the not unusual man. The Finance Ministry made it clean in the rajya sabha that there's no idea to impose GST on UPI transactions of extra than Rs 2000. This news is a alleviation for those who use UPI for regular transactions.
On July 22, in the course of the monsoon consultation of the rajya sabha, minister of nation for Finance Pankaj Chaudhary gave records about this. He said that the GST Council has no longer made any recommendation to impose GST on UPI transactions. The GST Council is a constitutional body that consists of representatives of the middle and the States and Union Territories. This council comes to a decision the tax costs and exemptions associated with GST. Chaudhary additionally clarified that there may be no plan to impose GST on UPI payments.
people are not taking UPI.
currently, GST demand notices had been sent to approximately 6,000 investors in karnataka on the premise of UPI transaction statistics. due to this, people have been afraid that the government should impose a tax on UPI payments. but this declaration of the government has placed an stop to all of the apprehensions. Now people can make bills through UPI with none fear.
UPI has end up the maximum famous approach of wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital fee in india today. human beings use it effortlessly, from small transactions to large bills. it's miles cheap, rapid and relaxed. This choice of the government will further promote wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital India. The not unusual man will now neither have to worry about additional tax nor transaction restriction. This step is beneficial no longer only for the not unusual human beings however additionally for small buyers who make their commercial enterprise easier through UPI. After receiving the notice in Bengaluru, many investors in towns like delhi are also avoiding taking UPI payments.
Disclaimer: This content has been sourced and edited from Indiaherald. While we have made adjustments for clarity and presentation, the unique content material belongs to its respective authors and internet site. We do not claim possession of the content material.
.jpg)
click and follow Indiaherald WhatsApp channel