After Karnataka, four more states, Andhra Pradesh, Uttar Pradesh, Tamil Nadu, and Gujarat, have requested UPI merchant transaction data to identify businesses with over Rs 40 lakh turnover. The move may push merchants back to cash payments to avoid GST scrutiny. Traders' protests and merchant backlash have sparked fears of reduced digital adoption and disruption to India's growing UPI ecosystem.
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09:56 am on
19 Jul