Amendment to Taxation Act, Payment and Settlement Systems Act get President’s assent
The changes give legal backing to possible MDR charges on some digital payments and extend tax breaks for foreign investors and electronics makers.
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Taxation, Payment and Settlement Systems Act Amendments Get President's Assent
The Taxation and Other Laws (Amendment) Act, 2026, and an Act to further amend the Payment and Settlement Systems Act, 2007, have received the assent of the President on the August 17, 2026, the Ministry of Law said in a gazette notification.
Amendment to Taxation Act, Payment and Settlement Systems Act get President’s assent
The Taxation and Other Laws (Amendment) Act, 2026, and an Act to further amend the Payment and Settlement Systems Act, 2007, have received the assent of the President on the August 17, 2026
India Paves the Way For Charging Merchants a Fee On UPI Transactions
An anonymous reader quotes a report from the BBC: For most Indians, paying by Unified Payments Interface (UPI) has become almost absurdly routine. Scan a QR code, tap a few buttons and the money moves instantly. There is no card machine, no cash, and -- most importantly -- for the user, no visible f...
The amendment to the Payment and Settlement Systems Act has given the government the legal basis to shift to a zero merchant discount rate (MDR) regime on UPI and RuPay card transactions.
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