Good News For BHIM, Rupay Users! GST Council Approves 20% Cashback On Total Tax Amount financialexpress.com

The GST Council on Saturday approved the plan for 20% cash back on the total tax amount to BHIM UPI and Rupay card users on the pilot basis to promote digital transactions and formalization of the economy. Speaking with reporters after the meeting, interim Finance Minister Piyush Goyal said that the GST Council has decided to launch the plan on a pilot basis under which a lot of rural population using BHIM UPI and Rupay will get the benefit of the cash back up to a maximum of Rs 100.

The plan was earlier shelved and was sent to Group of Ministers (GoM) for drawing out an incentive plan for digital transactions. After the approval from Group of Ministers (GoM), the proposal to incentivize digital payments through Bhim App and Rupay via cashback was placed before the council for the final nod.