LocalCircles Impact: Government removes MDR charges for large merchants
No MDR on UPI and Rupay
For those of you have been in the circle for long, know that since Nov 2016 i.e.demonetisation, LocalCircles has been actively taking up the cost of excessive transaction charges for card transactions and been pushing the Government to get the MDR fee eliminated so the merchants don't push consumers to get cash for their purchase/services.
Also, we hope that in the near future the Government will also include businesses above annual turn over of INR 1 Crore to accept UPI and Rupay digital payments. You are welcome to share your inputs and experiences! more
Secondly, if recharge is to be done for IRCTC ewallet, 2% levy is charged even for unreserved ticketing for local trains travel. Coming to booking tickets through IRCTC site, passenger has to pay Rs. 35.40 as convenience fees besides respective bank charges ranging from Rs. 11.40 to certain percentage of ticket cost.
From the above, it looks like that government is busy in announcing various schemes or policies but it is not monitering whether they are followed or implemented. Government must address this issue on top priority. more
Which means.. The big cats are liable to pay taxes😼
Revenue to the govt thru MDR CHARGES.. WHATEVER THAT MDR IS FOREGONE BUT I GUESS THE GOVT WILL EARN A LOT MORE THRU TRANSPARENCY OF SALES REVENUE!
AB THO, FOR EVERY 10 TRANSACTIONS ONLY AT MAX 5 ARE SHOWN IN BOOKS
AND TAXES PAID IS ACTUALLY ONLY AT MAX 50% OF ACTUAL TAXES LIABLE!!
SO WITH THE F**KING TRANSPARENCY IN PLACE.. THIS AT MAX NUMBER IS BOUND TO GO UP & UP😸