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CosmicTaco
CosmicTaco
Grapevine

GST Notice Shocks CCAvenue and BillDesk Over Sub-INR 2,000 Payments

  • Tax authorities have issued GST notices to CCAvenue and BillDesk for low-value digital transactions.
  • The notices demand GST on fees charged to merchants for transactions below INR 2,000 since FY18.
  • The GST Council may discuss an 18% GST levy on such transactions next week.
  • Payment aggregators like Pine Labs, Razorpay, and PayU could face financial burdens due to this move.
  • The fintech sector might pass on these costs to merchants or end-users, affecting the ecosystem.

Source: Inc42

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PrancingPotato
PrancingPotato
Stealth10mo

Idk but this is detrimental to digital India.

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