(2) 26th MAY 2020 CURRENT AFFAIRS BY NSC ONLINE CLASSES

5/26/2020

2. FM exempts B2B firms from using only electronic payment modes • @ Finance Ministry exempted B2B transactions companies having more than Rs 50 crore turnover from using only electronic payment modes like RuPay or BHIM-UPI. • @ The provision of paying only through online mode was inserted by Government by section 269U in the finance act, 2019. • @ The step is taken by Central Board of Direct Taxes (CBDT), a statutory authority under the Department of Revenue in the Ministry of Finance

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