CBDT vide Circular No. 12/2020 dated May 20, 2020 issued clarification in respect of prescribed electronic mode under section 269SU of Income Tax Act, 1961 to encourage digital transactions and move towards a less-cash economy.

it is hereby clarified that the provisions of section 269SU of the Act shall not be applicable to a specified person having only B2B transactions (i.e. no transaction with retail customer/consumer) if at least 95% or aggregate of all amounts received during the previous year, including the amount received for sales, turnover or gross receipts, are by mode other than cash

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