mumbai businesses with turnover of rs 50 crore and above that do not provide digital payment facilities to their customers will be fined rs 5000 per day from february 2019 according to a government notificationin a circular issued on tuesday the central board of direct taxes cbdt said that with effect from january 1 2020 businesses must provide the facilities for accepting payment through the prescribed electronic modes the government and the rbi have already directed banks to waive charges for electronic payments online the proposal requiring businesses with turnover of rs 50 crore to provide digital payment platform was mooted by the finance minister nirmala sitharaman in the budget in july 2019subsequently the finance act was amended to include section 271 db in the act which provides for levy of penalty of rs 5000 per day in case of failure by the specified person to comply with the provisions of section 269suin order to allow sufficient time to the specified person to install and operationalise the facility for accepting payment through the prescribed electronic modes the penalty under section 271 db of the act shall not be levied if the specified person installs and operationalises the facilities on or before january 31 2020 the circular saidthe government also notified its proposal to waive mdr on payments made through rupay and unified payments interface upi and upi qr code from january 1 2020 meanwhile the ministry of electronics and information technology said that it was discontinuing a scheme where it reimbursed mdr charges of value up to rs 2000 fro transactions made through debit cards bhim and aadhaar pay and on payments up to rs 1 lakh made to the governmentthe department said that as the finance ministry circular has barred mdr charges on rupay and upi the mdr reimbursement schemes are being closed from december 31 2019