https://www.taxtmi.com/schedules?id=9568 Services by an acquiring bank for settlement of a single low value card transaction are exempt from GST when the settlement amount does not exceed the notified low value threshold; "acquiring bank" includes banking companies, financial institutions and other persons who make payment to card accepting persons, with banking and financial institution defined by reference to the Reserve Bank of India Act. Clarifications address applicability to Payment Aggregators and GST treatment of incentives shared by acquiring banks or paid by MeitY under the incentive scheme for RuPay Debit Cards and low value BHIM UPI transactions. en-us Sat, 01 Jul 2017 16:51:00 +0530 Fri, 07 Mar 2025 10:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/schedules?id=9568 Services by an acquiring bank for settlement of a single low value card transaction are exempt from GST when the settlement amount does not exceed the notified low value threshold; "acquiring bank" includes banking companies, financial institutions and other persons who make payment to card accepting persons, with banking and financial institution defined by reference to the Reserve Bank of India Act. Clarifications address applicability to Payment Aggregators and GST treatment of incentives shared by acquiring banks or paid by MeitY under the incentive scheme for RuPay Debit Cards and low value BHIM UPI transactions. Schedules GST Sat, 01 Jul 2017 16:51:00 +0530 https://www.taxtmi.com/schedules?id=9568