20% Cashback on BHIM UPI and RuPay Card: GST Council approved the Cabinet’s recommendations on digital payments on Saturday. The cabinet recommends concessions on the digital payment through the RuPay card and BHIM App to the Council. Now after making payment from RuPay card and Bhim APP, 20% tax discount (maximum of Rs 100) will be received by the user. GST Group Minister Sushil Modi on Digital Payment said that in the 29th meeting of the GST Council held in Vigyan Bhawan, New Delhi, one and a half dozen states, including Bihar, agreed to include in the Digital Incentives Pilot Scheme. Now we are ready to implement this discount of 20%.
He said, “GST Council will encourage 20% concession in tax on the payment of rupees card to the poor and KCC farmers who live in villages and the Bhima Apes, which will be maximum Rs 100. To encourage digital transactions, Bihar and one and a half dozen states have agreed to join the Digital Incentives Pilot Scheme. ” Initially, it will be implemented in the form of a pilot project which will be willing to do it voluntarily.
As per the proposal approved by the GoM, consumers making payments using BHIM UPI or RuPay Card will get a cashback of 20 percent of the total GST amount, subject to a maximum of Rs 100. Now, it is up to the states, how they are planning to take it progressive, said Piyush Goyal.
He said that the Minister has been constituted for consideration of more than 150 suggestions received from the states for providing relief to the micro and small enterprises (MSMEs) that create the highest employment. The recommendation of this ministerial group will be decided in the GST Council meeting in Goa in the last week of September. Union Finance Minister Piyush Goyal said that in this group headed by State Finance Minister Shiv Pratap Shukla, the Finance Minister of Delhi, Bihar, Kerala, Punjab, and Assam will also be included.