INCOME TAX1 Oct 2026
Is October 2 ‘No UPI Day’? What you need to know as trade bodies, mobile retailers call off MDR protest | Mint
The 'No UPI Day' protest planned for October 2 has been called off. Mobile retailers' groups AIMRA and AICPDF withdrew it after meeting Finance Minister Nirmala Sitharaman. They opposed a proposed 0.4% merchant discount rate (MDR) on UPI payments above ₹2,000, due from 15 October 2026. The charge falls on merchants, not customers, and affects small retailers. Watch for the final MDR decision.
Key Statutory Highlights
- AIMRA and AICPDF called off the 'No UPI Day' protest planned for October 2 after meeting Finance Minister Nirmala Sitharaman.
- The proposed 0.4% merchant discount rate on UPI transactions above ₹2,000 is set to apply from 15 October 2026 and is charged to the merchant, not the customer.
- The trade delegation asked for a phased start at 0.20% in 2026-27, a higher ₹5 lakh threshold, and merchant-to-merchant transactions kept outside the MDR framework.
Actionable Advice for Taxpayers / Founders:If you accept UPI payments, check your pricing and records so you are ready for the proposed MDR from 15 October 2026, and confirm the final rate with your bank or payment provider before it applies.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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