Will making online UPI transactions above Rs 2000 really cost you more? While debit and credit cards already attract MDR, a proposal to levy the same on UPI transactions has also been introduced now. Before you fret on this, understand what the change could mean for you.
Finance Minister Nirmala Sitharaman on Tuesday introduced the Taxation and Other Laws (Amendment) Bill in Parliament. Among the changes is an amendment in the Payment and Settlement Systems Act, 2007, which would give government flexibility to impose Merchant Discount Rate (MDR).
