Payment aggregators doing under ₹2,000 transactions get GST relief

Finance Minister Nirmala Sitharaman on Saturday said payment aggregators handling transactions below ₹2,000 are eligible for GST exemptions. She added that this exemption does not extend to payment gateways and other fintech services. Additionally, penal charges levied and collected by banks and NBFCs from borrowers for non-compliance with loan terms will not attract GST.