Reference is to the Central Board of Direct Taxes (CBDT) circular 32/2019 and notification 105/2019 dated 30th December, 2019 from The Ministry of Finance, Government of India (GOI), which amend the Income Tax Act, 1961.
The said circular mandates to encourage a digital economy, which is essentially cashless, the new addition in the Income Tax Act requires that every person having a business turnover greater than INR 50 Crores is required to provide facilities for accepting payment through UPI, UPI QR and RuPay debit Cards in addition to the other electronic modes of payment.
We are accepting following method of Payment:
a. Debit Card powered by RuPay:
b. Unified Payments Interface (UPI) (BHIM‐UPI ID): gopinathchemtech@sbi
c. Unified Payments Interface Quick Response Code (UPI QR Code) (BHIM‐UPI QR Code)
d. NEFT/RTGS :
Name of Beneficiary Gopinath Chem Tech Ltd
Destination Bank's Name State Bank of India
Destination Branch Name SME Law Garden, Ahmedabad.
IFSC Code SBIN0060438
Account No. 10204723253