The association urged the government to address the implications of calculating the merchant discount rate on gross payments and resulting cascading tax incidence. It said in its note that FMCG retail and distribution businesses operate on very thin margins, hence a 0.4% MDR can represent significant erosion of actual earnings.
Read more at the source
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.