GST Fitment Committee proposes 18% tax on payment aggregator transactions under INR 2,000.

The GST Fitment Committee is considering an 18% tax on payment aggregators for transactions under INR 2,000, which are currently exempt. This move could increase costs for small businesses that rely on low-value transactions, while high-value transactions may remain unaffected. The decision, discussed at the upcoming GST Council meeting, reflects a shift in how PAs are viewed as intermediaries for card-based transactions.

September 06, 2024
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