GST lens on UPI pay may push small biz to cash: SBI

MUMBAI: An SBI report has cautioned that aggressive tax enforcement targeting small businesses could undermine the gains of formalisation under the GST. In a research note, the bank cautioned that such measures risk pushing informal players back into the cash economy. "A recent case from Karnataka illustrates this tension, where numerous small traders and shopkeepers in Bengaluru have received dis…