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New Delhi: The Centre is reportedly evaluating a proposal to bring high-value Unified Payments Interface (UPI) transactions under the Goods and Services Tax (GST) framework, according to multiple media reports.

The reports claim that UPI payments exceeding ₹2,000 in a single transaction could soon attract GST, aimed at boosting tax compliance and formalising more digital transactions.

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The proposal reportedly under review suggests that both peer-to-peer and merchant UPI transactions above the ₹2,000 threshold may be subjected to an 18% GST—the standard rate applicable to most digital services.

If implemented, this move could significantly impact users making larger payments via digital platforms. However, there has been no official confirmation or timeline for the rollout of the policy as yet.

The Unified Payments Interface (UPI) is an instant payment system developed and managed by the NPCI, an RBI-regulated entity.

UPI is built over the IMPS infrastructure and allows you to instantly transfer money between two bank accounts.

The payment interface provides a transfer facility without any user charge. Users can transfer any amount of money at any time without incurring additional fees from NPCI.

It is also widely used for small payments at local shops, as there is no minimum transaction limit. Additionally, UPI offers a convenient AutoPay feature, which allows users to set up recurring payments for bills and subscriptions, making transactions seamless and hassle-free.

It is to be noted that transactions through UPI touched a record high of Rs 24.77 lakh crore in March, recording a growth of 12.7 per cent over the preceding month. The UPI transaction value was Rs 21.96 lakh crore in February.

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