INCOME TAX1 Oct 2026
UPI hits 24 billion transactions in September; NPCI data shows 1.8% monthly dip amid MDR concerns | Mint
UPI saw 24.07 billion transactions in September, down 1.8% from August but still 23% higher than a year ago, worth ₹29.37 lakh crore. The bigger news for business owners: from 15 October, a 0.4% merchant fee may apply on merchant payments above ₹2,000. Small merchants collecting under ₹1 lakh monthly stay exempt. So check your payment flows before then.
Key Statutory Highlights
- UPI recorded 24.07 billion transactions in September, 1.8% lower than August but 23% higher than the same month a year ago.
- The total value of UPI transactions stood at ₹29.37 lakh crore in September, an 18% year-on-year increase.
- Under the revised UPI MDR framework, merchant payments above ₹2,000 may attract a 0.4% fee capped at ₹300, while person-to-person transfers stay free.
Actionable Advice for Taxpayers / Founders:Review your UPI collection pattern and monthly merchant volumes now, since the proposed fee structure starts 15 October. If you are unsure whether your business falls in an exempt or lower-fee category, check with your CA before the change takes effect.
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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