Jubail: Mohammed Anis elected as President of New Friends Circle NRI Wing
Jubail: Mohammed Anis has been unanimously elected as the President of the NRI wing of New Friends Circle, Krishnapura during the annual meet held in Jubail.
New Friends Circle, a youth organization in Dakshina Kannada district, has been actively involved in social service for the past 35 years. The NRI wing, established two years ago to support causes like medical aid and educational assistance for needy students, comprises members mostly residing in GCC countries.
The outgoing president, Abdul Rauf, expressed gratitude to all members for their support during his tenure. The newly elected office bearers include Fazal Rabbi as Vice President, Shakeel as Secretary, and Sarfaraz as Joint Secretary, with Nainar Asif serving as an advisor.
A felicitation program was organized to honor Haji Abdul Sattar, the former president of New Friends Circle, who was in Saudi Arabia to perform Umrah.
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Govt not considering levying GST on UPI transactions above Rs 2,000: FinMin
New Delhi, Apr 18 (PTI): The government on Friday clarified that it is not mulling to levy GST on UPI transactions above Rs 2,000.
Clarifying on reports, which said that the government is considering levying Goods and Services Tax (GST) on UPI transactions over Rs 2,000, the finance ministry said they are completely false, misleading, and without any basis.
"Currently, there is no such proposal before the government," the ministry said in a statement.
GST is levied on charges, such as the Merchant Discount Rate (MDR), relating to payments made using certain instruments.
Effective January 2020, the Central Board of Direct Taxes (CBDT) has removed the MDR on person-to-merchant (P2M) UPI transactions.
"Since currently no MDR is charged on UPI transactions, there is consequently no GST applicable to these transactions," the ministry said.
UPI transaction values have seen an exponential increase, growing from Rs 21.3 lakh crore in FY 2019-20 to Rs 260.56 lakh crore by March 2025.
The ministry also said the government remains committed to promoting digital payments via UPI.
To support and sustain the growth of UPI, an incentive scheme has been operational from FY2021-22. This scheme specifically targets low-value UPI (P2M) transactions, benefiting small merchants by alleviating transaction costs and promoting wider participation and innovation in digital payments.
In 2023-24, the government paid Rs 3,631 crore under the scheme, up from Rs 2,210 crore in 2022-23.
"The total incentive payouts under this scheme over the years reflect the government's sustained commitment to promoting UPI-based digital payments," the ministry noted.
