Less Cash economy – a policy decisions related S.269SU accepting payments through certain modes- late actions by authorities but quick implementations expected – a discussion on provisions and related notifications and circulars.

Less Cash economy – a policy decisions related S.269SU accepting payments through certain modes- late actions by authorities but quick implementations expected – a discussion on provisions and related notifications and circulars. https://www.taxtmi.com/article/detailed?id=9245 Section 269SU mandates that businesses above the statutory turnover threshold provide facilities to accept payments through prescribed electronic modes, with a daily penalty under section 271DB for non-compliance subject to proof of good reasons. Rules prescribe RuPay debit card, UPI and UPI QR Code as mandatory modes with a short implementation window; subsequent circulars grant a limited grace period before penalties and set a conditional B2B exemption requiring only B2B transactions and at least 95% non-cash receipts. en-us Sat, 06 Jun 2020 10:08:57 +0530 Sat, 06 Jun 2020 10:08:57 +0530 TaxTMI RSS Generator Less Cash economy – a policy decisions related S.269SU accepting payments through certain modes- late actions by authorities but quick implementations expected – a discussion on provisions and related notifications and circulars. https://www.taxtmi.com/article/detailed?id=9245 Section 269SU mandates that businesses above the statutory turnover threshold provide facilities to accept payments through prescribed electronic modes, with a daily penalty under section 271DB for non-compliance subject to proof of good reasons. Rules prescribe RuPay debit card, UPI and UPI QR Code as mandatory modes with a short implementation window; subsequent circulars grant a limited grace period before penalties and set a conditional B2B exemption requiring only B2B transactions and at least 95% non-cash receipts. Articles Income Tax Sat, 06 Jun 2020 10:08:57 +0530 https://www.taxtmi.com/article/detailed?id=9245