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Reporting by banks and payment gateways to Gst Department

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ajay taneja

27 Points Posted on 19 May 2024

Reporting of transactions by payment gateways & banks to capture details of B2C Sale whete the payment is received through POS Machines by the supplier.

You will see that digital payments received by you in banks will be reported by banks and payment gateways to GST Dept.

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Quick Summary

This discussion clarifies how banks and payment gateways will report details of Business-to-Consumer (B2C) sales, where payments are made through POS machines, to the GST Department. Digital payments received by suppliers via these platforms will be captured and reported, ensuring greater transparency in GST compliance for transactions.