Talk of charges on UPI payments exceeding ₹2,000: What does the government’s ‘Taxation and Other Laws Bill’ entail?

Talk of charges on UPI payments exceeding ₹2,000: What does the government’s ‘Taxation and Other Laws Bill’ entail?

The path to imposing charges on Unified Payments Interface (UPI) transactions appears to be clearing; however, 71 percent of the transaction value could remain exempt from such charges. A bill seeking to amend tax-related regulations was passed by the Lok Sabha on Thursday. The Central Government introduced the ‘Taxation and Other Laws Bill,’ which has since been passed; however, the bill makes no specific mention of the types of UPI transactions or the transaction value thresholds that would attract these charges.