UPI or no UPI, traders must pay GST, say authorities, promising to make GST registration smooth

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The commercial taxes department on Thursday said it would collect the GST, at applicable rates from traders, regardless of whether they accept payments via UPI or cash from customers.

The department issued a detailed statement responding to reports that sections of traders have stopped accepting payments through the UPI apps after it issued GST notices to unregistered traders whose annual UPI transactions breached the Rs 20 lakh cap in the case of services and Rs 40 lakh in the case of goods.

The department has urged traders, who have received notices,…



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UPI or no UPI, traders must pay GST, say authorities, promising to make GST registration smooth



The commercial taxes department on Thursday said it would collect the GST, at applicable rates from traders, regardless of whether they accept payments via UPI or cash from customers.

The department issued a detailed statement responding to reports that sections of traders have stopped accepting payments through the UPI apps after it issued GST notices to unregistered traders whose annual UPI transactions breached the Rs 20 lakh cap in the case of services and Rs 40 lakh in the case of goods.

The department has urged traders, who have received notices,…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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