Brief by Shorts91NewsDesk / 12:37pm on 18 Apr 2025,Friday India
The Indian government is considering a proposal to impose an 18% Goods and Services Tax (GST) on UPI transactions exceeding ₹2,000. This potential move is aimed at boosting tax compliance and formalizing more digital payments. The proposed tax could apply to both peer-to-peer and merchant transactions. While discussions are ongoing, no official decision or implementation date has been announced yet. The proposal comes at a time when GST collections have been rising steadily, with February 2025 recording ₹1.84 lakh crore, reflecting a 9.1% year-on-year increase in revenue. (PC: Mint)
