{"id":949390,"date":"2025-07-24T09:05:31","date_gmt":"2025-07-24T03:35:31","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=949390"},"modified":"2025-07-24T09:37:57","modified_gmt":"2025-07-24T04:07:57","slug":"gst-lens-on-upi-payments-may-drive-small-businesses-back-into-cash-economy-warns-sbi","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2025\/07\/24\/gst-lens-on-upi-payments-may-drive-small-businesses-back-into-cash-economy-warns-sbi\/","title":{"rendered":"GST lens on UPI payments may drive small businesses back into cash economy, warns SBI"},"content":{"rendered":"<p>MUMBAI: The aggressive tax enforcement targeting small businesses could undermine the gains of tax formalisation under the GST, which has crossed eight years of implementation, and could push them back into the cash economy that online payments especially the UPI have helped reduce to a large extent, SBI Research has warned in a report. <\/p>\n<p>&#8220;A recent case from Karnataka illustrates this tension of aggressive tax enforcement under the GST regime, where numerous small traders and shopkeepers in Bengaluru have received disproportionately high tax notices primarily based on digital footprints such as UPI transactions,&#8221; the report said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI: The aggressive tax enforcement targeting small businesses could undermine the gains of tax formalisation under the GST, which has crossed eight years of implementation, and could push them back into the cash economy that online payments especially the UPI have helped reduce to a large extent, SBI Research has warned in a report. &#8220;A recent case from Karnataka illustrates this tension of aggressive tax enforcement under the GST regime, where numerous small traders and shopkeepers in Bengaluru have received disproportionately high tax notices primarily based on digital footprints such as UPI transactions,&#8221; the report said.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[75,4,17],"tags":[],"class_list":["post-949390","post","type-post","status-publish","format-standard","hentry","category-it-2-the-new-indian-express","category-newspapers","category-the-new-indian-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/949390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=949390"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/949390\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=949390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=949390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=949390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}