Opinion | Govt should reduce GST on MDR for RuPay/UPI & increase it for luxury Visa/Master/Amex cards transaction

[pranav.kakani]

I cant believe that people have phones in which almost all components are imported, wear clothes of fabric that needed jmported machinery, etc can make such polls and comments and people here supporting this?
WOW

 

[akshayhs]

 

[Manishg]

Opinion | Govt should reduce GST on MDR for RuPay/UPI & increase it for luxury Visa/Master/Amex cards transaction:

Hey guys, what do you think about this?

The Government should reduce GST on MDR from 18% to 5% for RuPay Credit Card, RuPay CC EMI, Credit UPI and UPI EMI transactions — and increase GST on MDR from 18% to 40% for Visa, MasterCard, and Amex Card transactions under the “luxury product” category.

Look, we all know Visa, MasterCard, and Amex cards are luxury products. They’re a matter of pride for Indians and the Government should impose 40% GST on MDR for their transactions.

Not just transactions — even for EMI transactions made using Visa, MasterCard, or Amex cards, as well as the 1–2% processing fees charged by banks for EMI conversion, GST should be raised from 18% to 40%.

On the other hand, for RuPay Credit Card and Credit on UPI transactions, GST on MDR should be reduced from 18% to 5%. Similarly, on EMI interest for RuPay Credit Card and Credit on UPI transactions, GST should be reduce at 5%. For EMI conversions where banks charge 1–2% processing fees, GST should also be reduced from 18% to 5%.

This is just my personal opinion — I don’t think anyone will have a problem with it.

People will still happily use Visa, MasterCard, and Amex cards because they are considered a matter of pride and most importantly, Visa, MasterCard, and Amex Card are luxury products.

No matter who it is —

• Technofino’s Mr. Sumanta Mandal
• Proud Visa/MasterCard/Amex users like DD's Mr. Jimish Jobanputra and Mr. Mehul Jobanputra, CI’s Mr. Ankur Mittal, CE’s Mr. Siddharth, CM’s (sorry, forgot the name), @AmazingCreditC’s Founder,

Or other credit card influencers such as Mr. Kashif Ansari, Mr. Yash Sartanpara, Mr. Akash, Mr. Vineeth K, CA Roshan Agarwal, Mr. Gajender Yadav, Mr. Satish Agarwal, Mr. Ravi Sutanjani, Professor Cardz, Mr. Tarush Jain, Mr. Subhankar, Mr. Bhavye Goel, Mr. ANNA DM, Mr. Siddharth Bhimani, SpendWisely, Nebula_world, Bekifaayati girl, CardAcademy girl etc. (sorry, there are many more whose names I can’t recall right now).

All of them and other proud Visa, MasterCard, and Amex card users, will willingly accept even 40% GST — just like people do for iPhones.

But for us ordinary RuPay users (like me or the rest of you are all ordinary RuPay users), if GST on MDR is cut to 5%, then merchants will offer more discounts and EMI will also become more beneficial. We can also save a good amount of money on GST charged on EMI interest and EMI conversion for RuPay and UPI transaction.

@Abhishek012 You are not right here as per my point of view.

Government can provide subsidy for MDR to merchants or can lessen MDR on rupay credit card but GST should be same for all card networks either 5 or 18 it doesn't matter but same for all card networks.

This will be unethical practice and also having visa and Mastercard credit card doesn't mean you are rich. Like holding hdfc classic status doesn't mean you are maintaining 1 lakh. Sometimes hdfc allows classic status without fulfillment of criteria.

Sometimes, like idfc wow card have free fees but on visa that too infinite but idfc rupay digital card have fees of 199 although it is virtual.
Hdfc bank can offer millennia visa ltf but money back rupay chargeable. So it doesn't make any sense to judge rich or poor by card network. Maybe that person having Mastercard got swiggy card as ltf while he was getting rupay tata neu as paid.

Here how can a person be judged on that basis-

In your sense, Having Apple IPhone of 80000 is rich while having Samsung Galaxy S24 ultra over 1 lakh is middle class person.

Having Tata NEU infinity on rupay variant means you are middle class and having Tata NEU plus on visa variant means you are rich.
Think again!

 

[Rakshitk99]

Nahi, logo ka ek mindset banna chahiye ki Visa sirf rotate money k liye hote hai and RuPay/UPI genuine shopping transaction karne k liye.

Taki long term me banks ko samjhme aaye ki Visa dene se customers bas misuse karega, RuPay/UPI dene se customer genuine transaction karega.

Rupay and genuine in single sentence 🤣