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Vasooli Tai Memes Trend Over Reports Of GST On UPI Transactions Above Rs 2000? Center Reacts

Author Admin Estimated read time 4 min read



The Ministry of Finance has responded to the reports doing the rounds of the interweb that the government will levy GST on UPI transactions above Rs 2000.

The center stated that the rumors were without any merit. Clarifying the same on social media, GOI debunked the news as “completely false, misleading, and without any basis.” It stated that, “Currently, there is no such proposal before the government.”

The circular also reminded the UPI users that as of January 2020, the CBDT had removed the MDR on Person-to-Merchant (P2M) UPI transactions. It was done via a Gazette Notification dated 30th December 2019. Without an MDR charged on any UPI transaction, there can not be a GST levied. Ergo, no GST on transactions done via the UPI.

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Reactions poured in earlier as the rumor gained steam, giving the internet some chuckles courtesy of the middle class and vasooli tai memes.

While this is a massive relief to the Indians who mostly rely on UPI transactions, the recent server issues that have plagued its function are a party pooper. On several occasions, UPI users are seen left stranded due to downtime in the digital transaction. This is a critical issue, especially for people in emergency situations like hospitals or traveling.

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