The Central Board of Indirect Taxes and Customs (CBIC) Friday clarified that incentives paid by the Ministry of Electronics and Information Technology (MeitY) to banks under the incentive scheme for promotion of RuPay Debit Cards and low value BHIM-UPI transactions are in the nature of subsidy and are not taxable.from Banking/Finance-Industry-Economic Times https://ift.tt/PLCHufc
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