In order to further promote digital and card payments, Department of Financial Services, Ministry of Finance issues direction in public interest all Public Sector Banks(PSBs) not to charge fees for transactions settled on Immediate Payment Service (IMPS) and Unified Payments Interface (UPI) in excess of rates charged for National Electronic Funds Transfer (NEFT) for transactions above 1000/-, with service tax being charged at actual;

In order to further promote digital and card payments, Department of Financial Services, Ministry of Finance issues direction in public interest all Public Sector Banks(PSBs) not to charge fees for transactions settled on Immediate Payment Service (IMPS) and Unified Payments Interface (UPI) in excess of rates charged for National Electronic Funds Transfer (NEFT) for transactions above 1000/-, with service tax being charged at actual; https://www.taxtmi.com/news?id=17140 The Department of Financial Services directs Public Sector Banks that PSBs shall not charge fees for transactions settled on Immediate Payment Service (IMPS) and Unified Payments Interface (UPI) in excess of rates charged for National Electronic Funds Transfer (NEFT) for transactions above the specified threshold, with service tax charged at actuals; for Unstructured Supplementary Service Data (USSD) transactions above the threshold, a further discount of fifty paise on these rates shall apply, and the direction is temporally limited. en-us Wed, 21 Dec 2016 13:14:44 +0530 Wed, 21 Dec 2016 13:14:44 +0530 TaxTMI RSS Generator In order to further promote digital and card payments, Department of Financial Services, Ministry of Finance issues direction in public interest all Public Sector Banks(PSBs) not to charge fees for transactions settled on Immediate Payment Service (IMPS) and Unified Payments Interface (UPI) in excess of rates charged for National Electronic Funds Transfer (NEFT) for transactions above 1000/-, with service tax being charged at actual; https://www.taxtmi.com/news?id=17140 The Department of Financial Services directs Public Sector Banks that PSBs shall not charge fees for transactions settled on Immediate Payment Service (IMPS) and Unified Payments Interface (UPI) in excess of rates charged for National Electronic Funds Transfer (NEFT) for transactions above the specified threshold, with service tax charged at actuals; for Unstructured Supplementary Service Data (USSD) transactions above the threshold, a further discount of fifty paise on these rates shall apply, and the direction is temporally limited. News - Wed, 21 Dec 2016 13:14:44 +0530 https://www.taxtmi.com/news?id=17140