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