GETTING A NOTICE UPI TRANSACTION

Mere UPI transactions or bank credits do not automatically become GST turnover. GST is applicable only where there is supply of goods or services for consideration in the course or furtherance of business. If the amount of ₹47 lakh represents fund rotation among friends/relatives, credit card repayments, personal transfers, loans, or reimbursements, then the same should be properly reconciled and explained with bank statements, UPI details, credit card statements, and confirmations from concerned persons.

First check whether the notice is from GST or Income Tax Department and under which section it has been issued. Do not ignore the notice and do not accept the demand blindly. Prepare a date-wise reconciliation of all transactions and file a proper reply within the due date. If the transactions are personal in nature and not against supply of goods/services, GST demand can be contested.