New Delhi, Sep 25 (SocialNews.XYZ) The Confederation of All India Traders (CAIT) has distanced itself from a proposed nationwide "No UPI Day" on October 2, saying it has neither issued such a call nor supported the initiative.
The traders' body said claims circulating across media platforms and social media do not represent its official position.
In a statement issued on Friday, it said that no decision, resolution or official announcement has been made regarding any programme to observe October 2 as a “No UPI Day”.
The traders' body said reports attributing such a call to CAIT were “factually wrong” and appeared to have resulted from misinformation or misinterpretation.
CAIT also sought to distance itself from initiatives announced independently by some trade organisations and regional bodies over the issue of merchant discount rates (MDR) on digital payments.
According to CAIT, such programmes or protests are the respective decisions of those organisations and should not be attributed to the national traders' body.
It said reports suggesting that CAIT had participated in or endorsed any such action were erroneous.
The clarification comes amid renewed debate over the cost of digital payments for merchants and the future of the Unified Payments Interface (UPI) ecosystem.
The statement issued by CAIT National President B C Bhartia and Secretary General Praveen Khandelwal, who is also a Member of Parliament, urged media organisations to verify information through its official channels before publishing or broadcasting statements in its name.
It also asked traders and consumers to rely on official communications rather than speculative reports circulating on social media.
At the same time, CAIT reiterated that it remains committed to protecting traders' interests while supporting the growth, sustainability and security of India's digital payments ecosystem.
Meanwhile, the Government has, in its outreach to traders, said that the Merchant Discount Rate (MDR) will be applicable on UPI transactions above Rs 2,000. Transactions up to Rs 2,000 continue to have zero MDR and therefore zero GST impact.
Government data indicates that transactions of up to Rs 2,000 constitute more than 96 per cent of UPI merchant transaction volume. As a result, the overwhelming majority of UPI payments will not attract MDR and hence no GST on MDR. RuPay cardholders also will not be charged anything.
The Government has also ruled out any rethink about MDR, which will be levied from October 15, and this date will not be extended, an official said.
Merchants with monthly UPI receipts of up to Rs 1 lakh are not liable to pay MDR and therefore do not even have the issue of GST on MDR, the official said. Hence, apprehensions that GST on MDR will impose an additional burden on merchants are misplaced. The overwhelming majority of UPI transactions and small merchants remain unaffected, the official stressed.
Source: IANS
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