InvestorQ : Why has CBDT again exempted select firms from electronic payment acceptance?
Chandralekha Desai made post

Why has CBDT again exempted select firms from electronic payment acceptance?

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Mitali Bhutta answered.
1 year ago
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CBDT exempted businesses with more than Rs.50 crore sales revenues in only B2B businesses from the requirement of accepting payments only by electronic modes like RuPay or BHIM-UPI. It may be recollected that to promote digital transactions, the government inserted Section 269SU, in the Finance Act, 2019, requiring a person carrying on business and having gross receipts from business of more than Rs.50 crore must mandatorily provide facilities for online payments. In the light of the COVID-19 situation and due to the current business crunch, the CBDT has withdrawn the circular.

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