Taxes may be levied on UPI. According to sources, people who have been making free UPI payments so far will have to pay a small amount of tiered tax.
Sources from Google
Public did not have to pay any extra money for UPI payment. But according to the ministry, India's economic system may face destruction.
Sources from Google
The Union Finance Ministry of India gave such a message yesterday. In a tweet yesterday, the Union Finance Ministry of India said that---"UPI is a digital public good with immense convenience for the public & productivity gains for the economy. There is no consideration in Govt to levy any charges for UPI services. The concerns of the service providers for cost recovery have to be met through other means."
In the other language of Finance Ministry,"The Govt had provided financial support for DigitalPayment ecosystem last year and has announced the same this year as well to encourage further adoption of DigitalPayments and promotion of payment platforms that are economical and user-friendly,"
Sources from Google
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