Articles for Transaction Value

UPI hits record 16.73 billion transaction in Dec valued at Rs 23.25 lakh crore
1 week ago

UPI hits record 16.73 billion transaction in Dec valued at Rs 23.25 lakh crore

Deccan Chronicle  

Mumbai: Unified Payments Interface transactions recorded an all-time high of 16.73 billion in December 2024, marking an eight per cent month-on-month increase from November's 15.48 billion. Transaction value was also up by eight per cent to Rs 23.25 lakh crore, compared to Rs 21.55 lakh crore in November as per National Payments Corporation of India data. In value terms, transactions …

Crore Value Billion Cent Lakh Transaction Transactions
UPI 123 Pay: Key changes to come into effect before January 1
1 month, 2 weeks ago

UPI 123 Pay: Key changes to come into effect before January 1

Live Mint  

The Reserve Bank of India had extended the transaction limit from ₹5,000 to ₹10,000 for UPI 123Pay on October 9. Those who are unaware, UPI 123PAY enables digital payments on feature phones to access UPI services without internet connection. The members will collectively identify and tag UPI 123Pay transactions as per the rules given below: A.) C.) Initiation channel On …

Pay Transaction Upi Tag Npci 123 Effect Key
Royalty Not Includible In Transaction Value Of Imported Raw Materials To Demand Any Differential Customs Duty: CESTAT
7 months ago

Royalty Not Includible In Transaction Value Of Imported Raw Materials To Demand Any Differential Customs Duty: CESTAT

Live Law  

The Chennai Bench of Customs, Excise, and Service Tax Appellate Tribunal has held that the royalty is not included in the transaction value of the imported raw materials to demand any differential customs duty.The bench of Sulekha Beevi C.S. The Chennai Bench of Customs, Excise, and Service Tax Appellate Tribunal has held that the royalty is not included in the …

Royalty Customs Materials Payment Raw Materials Department Value
Explanation 3 To Sec 147 Can't Be Resorted To Make Addition On Any Other Issue Which Is Not Included In Reasons For Reopening: New Delhi ITAT
9 months, 3 weeks ago

Explanation 3 To Sec 147 Can't Be Resorted To Make Addition On Any Other Issue Which Is Not Included In Reasons For Reopening: New Delhi ITAT

Live Law  

On finding that no addition is made based on the reasons to believe recorded by the AO for reopening the assessment, the New Delhi ITAT quashed the order passed by the AO u/s 147 of the Income tax Act, 1961 The Bench of the ITAT comprising of Anubhav Sharma and Shamim Yahya observed while referring to the decision of Jurisdictional …

Assessment Sec Bench Pan Itat Assessee Addition
Supreme Court Affirms Penalty On 'Zarda' Manufacturers For Misclassifying Product As 'Chewing Tobacco' For Central Excise Duty
1 year, 2 months ago

Supreme Court Affirms Penalty On 'Zarda' Manufacturers For Misclassifying Product As 'Chewing Tobacco' For Central Excise Duty

Live Law  

The Supreme Court while adjudicating a matter wherein the Assesssee deliberately misclassified the ‘Zarda’ produced by it as ‘Chewing Tobacco’ for evading payment of a high duty as applicable to ‘Zarda’, has affirmed the imposition of penalty and demand for payment of differential duty raised by the Central Excise Department from the Assessee. Now CET SH 2403 9930 was included …

Supreme Court Tobacco Penalty Duty Act Bench Mrp
Physician Samples Distributed Free Of Cost By Medicament Manufacturer, Excise Duty Payable On Transaction Value: CESTAT
1 year, 2 months ago

Physician Samples Distributed Free Of Cost By Medicament Manufacturer, Excise Duty Payable On Transaction Value: CESTAT

Live Law  

The Kolkata Bench of Customs, Excise, and Service Tax Appellate Tribunal has held that physician samples are not sold by affixing the MRP on them; the same has to be distributed free of charge by the medication manufacturer. The bench of Ashok Jindal and K. Anpazhakan has observed that the assessee has not short-paid the duty and that the assessee …

Duty Central Value Samples Goods Excise Appellant
Digital payment trends: UPI transactions skyrocket to an astounding 9.3 billion in June 2023, says study
1 year, 3 months ago

Digital payment trends: UPI transactions skyrocket to an astounding 9.3 billion in June 2023, says study

Live Mint  

Worldline, a prominent player in payment services worldwide, has released its India Digital Payments Report for H1 2023. The total value of card transactions in H1’23 amounted to Rs 11.35 trillion, representing an 11.7 per cent increase from H1’22. Concerning transaction value, NB transactions in H1’23 totalled Rs 468.8 trillion, compared to Rs 442.4 trillion in H1’22, indicating a 5.9 …

India Payments Digital Payments Credit Cards Billion Cards Yoy
Supply Of Precast Manhole Using The Steel And Cement Attracts 18% GST: Rajasthan AAR
1 year, 8 months ago

Supply Of Precast Manhole Using The Steel And Cement Attracts 18% GST: Rajasthan AAR

Live Law  

The Rajasthan Authority of Advance Ruling has ruled that the supply of precast manholes using steel and cement attracts 18% GST.The bench of Umesh Kumar Garg and Mahesh Kumar Gowla has observed that precast manholes and rises are movable property; hence, the supply of precast manholes and rises is a supply of goods and not a supply of services on …

Supply Applicant Value Gst Transaction Manhole Precast
Google Pay leads UPI transaction value race in March leaving Paytm, PhonePe behind
5 years, 9 months ago

Google Pay leads UPI transaction value race in March leaving Paytm, PhonePe behind

Firstpost  

With a number of Wallet and app services now offering UPI transactions, grabbing the lion’s share of transactions has become a priority for services like Paytm, PhonePe, Google Pay, BHIM and other UPI-enabled payments apps. As per sources close the publication, people used Google Pay to transfer payments worth Rs 43,000-45,000 crores in March, while Paytm and PhonePe dealt with …

Google Pay Transactions Paytm Upi Phonepe Transaction Value Million Transaction