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Central governments approval to cancel service charges for debit/credit card transactions
Posted on: 26/Feb/2016 12:22:18 PM
The central government cabinet ministry met headed by the Prime Minister Narendra Modi.
During this meeting, the central government approved the cancellation of service taxes levied on all credit & debit cards.
In order to encourage all electronic financial transactions and to prevent cheating/failure of tax payment due during direct financial transactions of very high amounts, this cancellation of service charges for credit/debit cards has been approved.
The central cabinet ministry has strongly recommended that all large amount financial transactions must be carried out only through electronic means by way of credit/debit cards.
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