BHIM, Rupay, and UPI users can now avail cashbacks for payments

GST Council has now cleared the route to give cashbacks to customers on trial basis for digital payments through Rupay cards, BHIM app, and Unified Payments Interface (UPI) system to promote cashless transactions in rural and semi-urban areas.

Finance Minister Piyush Goyal said ” Volunteer states would roll out incentives on pilot basis for digital payments, and the GSTN, the IT backbone of the GST network, and the National Payments Corporation of India (NPCI) will develop a system soon”

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Customers making payments through Rupay card and BHIM UPI, would get a cashback of 20 percent of the total GST amount, subject to a maximum limit of Rs. 100, Goyal said, while terming the move as a step towards formalisation of the economy…..Read More>>

 

Source:- techiyogiz

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