- Promoting Digital Payments among People
Promoting Digital Payments among People
- To promote digital payments through use of credit/debit cards and mobile phone applications/e-wallets etc, the Central Government announced a package of incentives and measures. Dated 8th December 2016
- Banks and Prepaid Payment Instrument (PPI) not to levy any charges on customers for transactions upto ₹ 1000 made through Immediate Payment Service (IMPS), USSD-based *99# and Unified Payment Interface (UPI) systems from 1st January 2017 to 31st March 2017.
Dated 16th December 2016
- For card payments, transactions upto ₹ 1000/-, MDR capped at 0.25% and transactions above ₹ 1000/- and upto ₹ 2000/-, MDR capped at 0.5% from 1st January 2017 to 31st March 2017. Dated 16th December 2016
- Benefit of lower rate of Income Tax on digital turnover (from 8% to 6%) for small businesses under Section 44AD of Income Tax Act, 1961 Dated 20th December 2016
- Public Sector Banks(PSBs) not to charge fees for transactions settled on Immediate Payment Service (IMPS) and Unified Payments Interface (UPI) in excess of rates charged for National Electronic Funds Transfer (NEFT) for transactions above Rs. 1000/-, with service tax being charged at actual; For Unstructured Supplementary Service Data (USSD) transactions above Rs. 1000/-, a further discount of Fifty (50) Paise upto 31.03.2017. Dated 21st December 2016
- Oil Marketing Companies, viz IndianOil, BPCL & HPCL are now offering an upfront discount of ₹ 5/- on every LPG refill to all LPG customers who will book and pay for their LPG cylinders online.
Dated 3rd January 2017
- NIL Excise Duty on POS Devices and All goods for manufacture of POS Devices.
Dated 28th November, 2016
- Lucky Grahak Yojana and Digi-धन Vyapar Yojana
- Bharat Interface for Money (BHIM)