Is the central government going to impose GST on UPI transactions above ₹2000? Union Minister of State, Pankaj Chaudhary, has answered this question in Parliament. In reply to a question asked in the Rajya Sabha during the current monsoon session, he said that the government has no intention of imposing GST on UPI transactions above ₹2000.
What Did the Minister Say?
On July 22, a question was asked in the Rajya Sabha about whether the Finance Ministry is planning to impose GST on UPI or on UPI transactions above ₹2000. Minister of State for Finance, Pankaj Chaudhary, answered this question.
According to a report by The Economic Times, the Minister said, “There has been no suggestion from the GST Council to impose GST on UPI transactions above ₹2000.” He also said that GST rates and exemptions are decided based on the suggestions of the GST Council.
What Did the RBI Governor Say About UPI?
For some time, there has been a discussion about adding charges to UPI transactions. Last week, in a talk with Financial Express, the RBI Governor supported the idea of putting charges on UPI payments. He said that running the UPI system costs money, and someone has to pay for it. He also said that UPI transactions have increased a lot in recent times.