Yashish

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Hi! Let me help you with this.

You can use the invoice.payment_failed event: https://stripe.com/docs/api/events/types#event_types-invoice.payment_failed

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but can we create a scenario in stripe for the test so that I can check for the events in webhook

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Yes, you can use a test card that produces an error: https://stripe.com/docs/testing

Please, let me know if you have any other questions.