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UPI MDR: No extension of October 15 implementation date; GST Council may review 18% GST

1 source · first seen 20:09 24 Sept · updated 20:09 24 Sept

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Part of a developing story32 updates over 5 days

UPI MDR rollout and consumer protection

SBI plans to charge MDR on UPI merchant payments above ₹2,000 from October 15, while officials say MDR collections will not cover UPI’s full operating costs and the government and banks will decide a continuing subsidy. The Finance Minister says the fee will be borne within the merchant-payment ecosystem, not passed to consumers; the government is also discussing safeguards with banks.

Thursday, 24 September

  1. 2 sources
    Finance Ministry to meet banks and traders on UPI MDR concerns
  2. 2 sources
    GST Council may review UPI MDR and an 18% tax next month
  3. 2 sources
    0.4% MDR to apply to specified UPI merchant payments above ₹2,000 from October 15
  4. You are here
    UPI MDR: No extension of October 15 implementation date; GST Council may review 18% GST
  5. Govt, IBA to work on mechanism to ensure UPI MDR isn't passed on to consumers
  6. ‘75% of merchants insulated from UPI MDR’: NPCI CEO
  7. NPCI says no immediate plan to review MDR, charges needed to fund technology and cybersecurity

See all 32 updates →

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1 report · earliest 20:09
MoneycontrolUPI MDR: No extension of October 15 implementation date; GST Council may review 18% GST20:09