BCD exemption for specified display assembly inputs extended for automotive, medical and industrial applications, with defined exclusions and sunset d...
Prospective valuation amendment limits reassessment: unamended fair market value reference could not justify reopening based on a registered valuer's ...
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The GOI officially refutes claims of proposed GST on UPI transactions over Rs.2,000, confirming no such taxation measure exists. CBIC has eliminated Merchant Discount Rate (MDR) on Person-to-Merchant UPI transactions, rendering GST inapplicable. An active Incentive Scheme from FY 2021-22 supports low-value UPI transactions, with escalating allocations (FY2021-22: Rs.1,389 crore; FY2022-23: Rs.2,210 crore; FY2023-24: Rs.3,631 crore). The policy aims to promote digital payments, evidenced by India's leadership in real-time transactions, accounting for 49% globally in 2023 and witnessing UPI transaction values surge from Rs.21.3 lakh crore in FY 2019-20 to Rs.260.56 lakh crore by March 2025.
The GOI officially refutes claims of proposed GST on UPI transactions over Rs.2,000, confirming no such taxation measure exists. CBIC has eliminated Merchant Discount Rate (MDR) on Person-to-Merchant UPI transactions, rendering GST inapplicable. An active Incentive Scheme from FY 2021-22 supports low-value UPI transactions, with escalating allocations (FY2021-22: Rs.1,389 crore; FY2022-23: Rs.2,210 crore; FY2023-24: Rs.3,631 crore). The policy aims to promote digital payments, evidenced by India's leadership in real-time transactions, accounting for 49% globally in 2023 and witnessing UPI transaction values surge from Rs.21.3 lakh crore in FY 2019-20 to Rs.260.56 lakh crore by March 2025.
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