What is the provision of Section 269SU?

Ans.  Section 269SU provides that where a person is carrying on a business and his total sales, turnover, or gross receipts during the immediately preceding previous year exceeds Rs. 50 crores, it shall be mandatory for him to provide a facility to accept the payment through the following electronic modes:

a) Debit card powered by RuPay;

b) Unified Payments Interface (UPI) (BHIM-UPI); and

c) Unified Payments Interface Quick Response Code (UPI QR Code) (BHIM-UPI QR Code).