QR code option to become mandatory soon
New Delhi: The government is looking to mandate a QR code-based payment option using UPI at all shops and establishments with consumers opting for this method of payment eligible for GST-benefits along with shopkeepers. According to the information, the government wants to encourage not only the UPI payment through QR code but also the shopkeepers will benefit in GST.
The measure is intended to promote digital payments as the preferred option. “We are looking at incentives for both, the shopkeeper or the restaurant owner as well as consumers,” an official told.
The idea is to introduce the payment mechanism for B2C transactions and bring about behavioural change, said sources, but in the medium to long-term, QR codes may also be introduced on invoices.
Government has been working on mechanism payment together with the National Payments Corporation of India. It is being said that with QR code scanning payments can be made necessary for shopkeepers on a fixed border. Through this ID, a payment mechanism for BTU transaction is to be presented, along with practical changes.
Sources said that several countries had mandated digital payment tools and there have been massive gains in countries such as China, where fresh instructions have had to be issued to ensure that the option to make cash payments is easily available.