GST Compliance Ensures Traders Continue UPI Transactions
The Additional Commissioner of Commercial Taxes emphasized that traders should not stop accepting UPI payments amid GST registration requirements. Concerns arose when unregistered businesses received GST notices tracked via UPI records. The department clarified that GST applies to all forms of consideration, UPI included.
- Country:
- India
The Additional Commissioner of Commercial Taxes has urged businesses to continue accepting payments through the Unified Payments Interface (UPI) amid growing concerns following recent GST regulations.
On July 11, the department announced that businesses earning over Rs 40 lakh annually from goods or Rs 20 lakh from services must register for Goods and Services Tax. Media reports later revealed that several traders have been declining UPI payments due to fear of GST notices.
The department clarified that GST notices have been issued as it tracks transactions through various payment methods, UPI among them. The commissioner stressed that stopping UPI payments does not exempt traders from GST obligations as the tax is applicable on all forms of received consideration.
(With inputs from agencies.)
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