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4 months let-off from penalty on invoices without QR code
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SME Times News Bureau | 30 Nov, 2020
In an significant move to promote digital payments in Business to
Customer (B2C) transactions through QR Code and GST enablement on UPI,
the government has conditionally waived the penalty provisions for a
period of four months from December 1, 2020 to March 31, 2021 for
issuing invoices without mandatory dynamic QR code by the registered
persons with a turnover exceeding Rs 500 crore, sources said.
Sources
in the Department of Revenue (DoR) said that the government has been
pursuing the banks, vendors and the National Payments Corporation of
India (NPCI) for almost a year now to introduce GST enablement on UPI.
Multiple meetings were conducted by the department with the NPCI, top
banks and other stakeholders to push the project.
The NPCI
developed the necessary solution required and shared technical
documents, FAQs, etc, with the banks. Also, the NPCI was ready for the
bank certification from February 6, 2020 and targeted for GST enablement
on UPI to go live from first week of March 2020.
Sources said
that the government, also, in pursuance of its objective to create a
less cash society, mandated issuance of invoices with dynamic QR code by
registered persons (business entities) with turnover exceeding 500
crores, vide its order dated March 21, 2020 to enable GST on the UPI
which was to be effective from December 1, 2020 in respect of invoices
issued to unregistered persons (customers).
A penalty provision
was also invoked for issuance of invoices without dynamic QR code from
December 1. However, the majority of the banks lagged behind in their
preparedness for enablement of GST on UPI despite multiple meetings,
persuasions and necessary support from the NPCI.
According to the
sources, recently in a high level review meeting at North Block on GST
enablement on UPI, it was decided to give one time waiver on penalty
provisions for four months period till March 31, 2021 on the condition
that the stakeholders would set up necessary process during this period
to go-live with QR code on invoices by April 1, 2021, thereby enabling
GST on UPI.
Thus, the government, said the sources, decided to
extend certain concession and issued fresh notification dated November
29, waiving the penalty for issuing invoices without dynamic QR code
from December 1, 2020 to March 31, 2021, provided that the taxpayers
start complying with requirement of QR code from April 1, 2021.
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