Tension of businessmen accepting online payments increased, GST asked for a complete list from UPI UPI GST

UPI GST: The GST department has now decided to keep an eye on businessmen transacting through the UPI payment system. Under this system, businessmen who are doing business more than the prescribed turnover and yet have not taken GST license will be identified. This will help in preventing tax evasion.

A double challenge for businessmen

The GST department has sought data of two categories of businessmen: one who are earning more than 20 lakhs in the service sector and the other who are supplying products and goods worth more than 40 lakhs without GST license. This will help in identifying those businessmen who are not following the rules.

Department's action on tax evasion

After getting the information, the department will send notices to those businessmen who are doing high turnover without license. In this, a penalty of 18% along with interest will also be charged. Through this process, the department is trying to stop tax evasion on a large scale.

Last month, the GST department collected data of UPI payments in UP and sent notices to several thousand businessmen and entrepreneurs. Through this step, the department has been successful in identifying those businesses which are doing big business without a license.

License Mandatory

It is now mandatory for businessmen to obtain GST license if they exceed a certain turnover. This regulation ensures that all businesses follow the same rules and avoid tax evasion. The department will take strict action against businessmen who do not follow this rule.

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