Dynamic Qr Invoices For Gst Compliant Businesses. All you need to know to stay compliant. The concept of upi qr code is being followed by digital payment processors and is also available under the income tax law.
Generate Dynamic B2C QR Code from GSTZen
In other words, it enables the consumers to make payment using upi by scanning the qr code provided on the invoices. All you need to know to stay compliant. Purpose of dynamic qr code. It’s a known fact that the government has been pushing for a wide variety of digitisation and automation measures in the country. The concept of dynamic quick response (qr) code under gst was introduced by cbic through notification no. Where payment is made after. Which businesses are required to generate gst compliant dynamic qr codes? This is applicable to those suppliers whose annual turnover exceeds ₹500 crores when supply is made to an unregistered person. This in line with the rbi’s recommendations to streamline the payments related to b2c transactions. Moreover, the government has decided to launch the dynamic qr code concept from 1 st december 2020.
Moreover, the government has decided to launch the dynamic qr code concept from 1 st december 2020. The cbic vide circular no. “cbic tweeted that no fine under section 125 of cgst law, shall be levied for not creating dynamic qr (quick response) code on bussiness to customer invoice amid 1st dec 2020, to 30th september 2021”. Printing of dynamic qr code of upi id on invoices on b2c invoices. The purpose of having a dynamic qr code on b2c invoices is to facilitate digital payments. All you need to know to stay compliant. Latest update in qr code under b2c. This in line with the rbi’s recommendations to streamline the payments related to b2c transactions. In other words, it enables the consumers to make payment using upi by scanning the qr code provided on the invoices. However there are many configuration options s available. Our qr code contains upi id of bank, invoice number, invoice date, bill amount, gst amount and gst number of seller.
