Jewellery shop charged customer to pay MDR

[CHOCOPANDA]

Today I purchased jewellery in a shop. I paid via rupay cc. I did two transactions 50k and 1L. The shop told me to pay the mdr as it is charged to him by bank. I have heard news that Govt is planning to reimburse the mdr to banks. So my query is that can I get my mdr back. If the bank pays it to shop via any circular of RBI. @Abhishek012.

 

[Tejo]

Today I purchased jewellery in a shop. I paid via rupay cc. I did two transactions 50k and 1L. The shop told me to pay the mdr as it is charged to him by bank. I have heard news that Govt is planning to reimburse the mdr to banks. So my query is that can I get my mdr back. If the bank pays it to shop via any circular of RBI. @Abhishek012.

There will be no refund on commodity transactions, regarding mdr fee...

You should have used the cashback cards.

 

[CHOCOPANDA]

There will be no refund on commodity transactions, regarding mdr fee...

You should have used the cashback cards.

Wo to credit card se payment ke liye bole to final bill me 2.5% increase ker Raha hai

 

[Tejo]

Wo to credit card se payment ke liye bole to final bill me 2.5% increase ker Raha hai

Fuel, gold or similar things are the commodities ....

 

[Vasuki]

Today I purchased jewellery in a shop. I paid via rupay cc. I did two transactions 50k and 1L. The shop told me to pay the mdr as it is charged to him by bank. I have heard news that Govt is planning to reimburse the mdr to banks. So my query is that can I get my mdr back. If the bank pays it to shop via any circular of RBI. @Abhishek012.

Thats why buy from jwellery Shop chains .
Not individual.
Should have used cc directly.
Wonder which cc made u do 1l transaction flat

 

[CHOCOPANDA]

Thats why buy from jwellery Shop chains .
Not individual.
Should have used cc directly.
Wonder which cc made u do 1l transaction flat

Shop chains kya hota h. Pls tell

 

[elite34700]

Brands like joyalukkas etc..,

 

[Deleted member 9785]

Brands like joyalukkas etc..,

making its 10% higher

 

[elite34700]

Not guaranteed depends on how you negotiate.

 

[pinki]

making its 10% higher

Can pay with gv's bought at 5-8% discount easily such as tanishq

 

[ontherocks]

Is the screenshot shopkeeper's?

 

[CHOCOPANDA]

Is the screenshot shopkeeper's?

Yes bro .

 

[rkg]

making its 10% higher

Need not be. Gold price.gm is comparable and its almost same. Value addition is charged by every jeweler . It ranges for 5-25% depending upon type of jewellery. Small shops also charge similarly. This my personal experience. Overall it comes to same. Big chains have the advantage of proper GST bill and record of purchase. Most of the smaller shops do not give proper GST bill.

 

[Deleted member 9785]

Need not be. Gold price.gm is comparable and its almost same. Value addition is charged by every jeweler . It ranges for 5-25% depending upon type of jewellery. Small shops also charge similarly. This my personal experience. Overall it comes to same. Big chains have the advantage of proper GST bill and record of purchase. Most of the smaller shops do not give proper GST bill.

not really. 5 year back i used to shop at malabar as there making was 12-13%. Now they have raised it to 20-25%.

I now shop at local jewelers shop with 8% making charges flat using UPI. I get proper bill and GST and gold is hallmarked and pure and full exchangeable in future in any gold shop at CMP.

The aim when buying gold jewelley shd be to minimise making charges and no think of card rewards

 

[ontherocks]

not really. 5 year back i used to shop at malabar as there making was 12-13%. Now they have raised it to 20-25%.

I now shop at local jewelers shop with 8% making charges flat using UPI. I get proper bill and GST and gold is hallmarked and pure and full exchangeable in future in any gold shop at CMP.

The aim when buying gold jewelley shd be to minimise making charges and no think of card rewards

Whether its hallmarked/thismarked/thatmarked, whenever you want to exchange to a shopkeeper/chain other than from which it was bought, they will have their own policy in their favor to deduct something.

 

[sxchzy]

buy from reputed people like tanishq
they dont charge mdr and if you buy gvs making charges gets nullified
as for mdr you can file an ombudsman case

 

[Ad.Astra]

Today I purchased jewellery in a shop. I paid via rupay cc. I did two transactions 50k and 1L. The shop told me to pay the mdr as it is charged to him by bank. I have heard news that Govt is planning to reimburse the mdr to banks. So my query is that can I get my mdr back. If the bank pays it to shop via any circular of RBI. @Abhishek012.

The reimbursement thing is different matter (MDR refund thing is for RuPay credit card UPI payments)

What you need to know is that Shopkeepers (POS machine owners) are supposed to bear the MDR charges and pay from their pocket, they can't charge the customers additionally to recover MDR charges.

I think you should have stood your ground and refused to buy jewellery by telling the shopkeeper that you would buy from somewhere else.

If any shopkeeper asks for additional payment for MDR, simply refuse.

 

[rkg]

not really. 5 year back i used to shop at malabar as there making was 12-13%. Now they have raised it to 20-25%.

I now shop at local jewelers shop with 8% making charges flat using UPI. I get proper bill and GST and gold is hallmarked and pure and full exchangeable in future in any gold shop at CMP.

The aim when buying gold jewelley shd be to minimise making charges and no think of card rewards

Small shops charge making charges and wastage separately, which will be around 10%. I do shop at small shops. They charge ever thing separately. Making charge ( depends upon design ), wastage, Stones, GST( if bill is given). Altogether it comes to same.
The big chains, one can almost nullify GST with cards like Infinia/DCB.
Further the value addition is not uniform 20% it varies with design.
Except Tanishq, all other jewellery chains savings schemes nullify the value addition upto 25%. One can pay the monthly installment by CC. Literally one can buy gold at prevailing rate + GST in bigger chains through Savings scheme

 

[anotheruser]

From my experience in Tanishq(over years), their gold prices are always higher than others and so are making charges. Its just that trust in Tata that I still buy from them.
Also this rupay mdr thing was bound to happen.
In the end somone is bearing charges but till when.
Already a lot of merchants have stopped accepting upi on credit card.y
From rupay as business pov, you cant run a business with all expenses and no income.
Same as Uber-Ola in initial days. Similar will happen with ondc

 

[Deleted member 9785]

Small shops charge making charges and wastage separately, which will be around 10%. I do shop at small shops. They charge ever thing separately. Making charge ( depends upon design ), wastage, Stones, GST( if bill is given). Altogether it comes to same.
The big chains, one can almost nullify GST with cards like Infinia/DCB.
Further the value addition is not uniform 20% it varies with design.
Except Tanishq, all other jewellery chains savings schemes nullify the value addition upto 25%. One can pay the monthly installment by CC. Literally one can buy gold at prevailing rate + GST in bigger chains through Savings scheme

nope they dont. The shop mantra is simple from where i buy - weight * todays market price + 8% making + 3% GST

All costs charges are covered under 8%

I am very heavy physical gold buyer hence know. I take their gold to tanishq and malabar and its always pure on caratometer.