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In a recent Lok Sabha session, Finance Minister Nirmala Sitharaman addressed concerns raised by BJP MPs K Sudhakar and Tejasvi Surya regarding the issuance of GST notices to small traders and street vendors. The Minister categorically stated that Central GST authorities have not issued any notices b
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FAQ :
No, Finance Minister Nirmala Sitharaman has categorically stated that Central GST authorities have not issued any notices based on UPI transactions.
Some small vendors, particularly in Karnataka, stopped accepting UPI payments after receiving GST notices that flagged businesses exceeding turnover thresholds, leading to fears of tax scrutiny.
Businesses generally need to register for GST if their annual aggregate turnover exceeds Rs 40 lakh for goods or Rs 20 lakh for services. However, lower thresholds apply in certain states.
Yes, Central and state GST authorities have approached payment aggregators to access data on businesses receiving over Rs 20 lakh annually for analysis, particularly concerning unregistered and cash-based trade.
Finance Minister Nirmala Sitharaman firmly denied any systemic flaws in the GST Department contributing to tax evasion.
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