NPCI says GST on new UPI rates will not hit over 96% of small merchants

NPCI clarified that the GST on new UPI rates will not affect more than 96% of small merchants, since transactions under ₹2,000 and monthly volumes up to ₹1 lakh are exempt from MDR. The new UPI merchant fee regime takes effect on 15 October 2026.

Detected & updated continuously · Source: Nebula