Bank of Baroda is issuing Dynamic QR code to our corporate customers having nature of Business as B2C and annual aggregate turnover more than 500 crore rupees. Which one is the correct feature of Dynamic QR code?

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	It changes with every transaction
B	It contains the merchant name and UPI ID / VPA
C	It also contains the payment amount to be collected
D	All are correct

Explanation:

Detailed explanation-1: -As per B2C Invoice Notification No. 14/2020-Central Tax, dated 21 March 2020, taxpayers having an aggregate turnover of more than INR 500 crores had to include a Dynamic Quick Response (QR) code mandatorily in the e invoice for B2C transactionsin GST issued by them, from 1 December 2020. However, via Notification No.

Detailed explanation-2: -Applicability of QR Code to B2C GST Invoice Where the aggregate turnover of a supplier in the preceding financial years, starting from 2017-18, exceeds Rs. 500 crore, he shall be required to have a dynamic QR code displayed on B2C invoices raised by him.

Detailed explanation-3: -Thus, the main motto of generating QR codes for B2C e-invoices is to promote digitalisation of payments using any UPI. Dynamic QR code – A dynamic QR code is editable and allows additional features such as scan analytics, password protection, device-based redirection and access management.

Detailed explanation-4: -Step 1 Select the GSTIN from Dashboard. Click on manage and Edit. Step 2 Provide B2C QR Code details and save. Step 3 Create/Upload B2C invoices.

There is 1 question to complete.