Electronic payment acceptance requirement expands for eligible businesses and professionals using specified digital payment modes. Persons carrying on business or profession whose total sales, turnover or gross receipts exceed the prescribed threshold in the immediately preceding tax year must provide facilities for accepting payment through specified electronic modes, in addition to any other electronic payment modes already offered. The prescribed modes include RuPay debit card, Unified Payments Interface (BHIM-UPI), UPI QR Code (BHIM-UPI QR Code), and Tier-III full KYC Central Bank Digital Currency wallets, P-CBDC, wholesale or cross-border CBDC.
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Electronic payment acceptance requirement expands for eligible businesses and professionals using specified digital payment modes.
Persons carrying on business or profession whose total sales, turnover or gross receipts exceed the prescribed threshold in the immediately preceding tax year must provide facilities for accepting payment through specified electronic modes, in addition to any other electronic payment modes already offered. The prescribed modes include RuPay debit card, Unified Payments Interface (BHIM-UPI), UPI QR Code (BHIM-UPI QR Code), and Tier-III full KYC Central Bank Digital Currency wallets, P-CBDC, wholesale or cross-border CBDC.
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