<ul><li>The finance ministry has rejected the rumours of levy of goods and services tax (GST) on UPI transactions above INR 2,000.</li><li>Currently, GST is only applicable on charges like Merchant Discount Rate (MDR) for certain payment instruments.</li><li>The Centre removed MDR on person-to-merchant (P2M) UPI transactions in January 2020, effectively making them GST-free.</li><li>Indian fintech and banking sectors are pushing for the reintroduction of the MDR on high-value UPI transactions.</li></ul>

Centre Rejects Rumours Of GST Levy On UPI Transactions

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