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Draft Proposals for Facilitating Electronic Transactions

Draft Proposals for Facilitating Electronic Transactions
Start Date :
Jun 16, 2015
Last Date :
Jun 29, 2015
17:00 PM IST (GMT +5.30 Hrs)
Submission Closed

The Finance Minister in his budget speech for the Union Budget 2015-16 made the following announcement: ...

The Finance Minister in his budget speech for the Union Budget 2015-16 made the following announcement:
“One way to curb the flow of black money is to discourage transactions in cash. Now that a majority of Indians has or can have, a RUPAY debit card. I therefore, proposes to introduce soon several measure that will incentivize credit or debit card transactions and disincentivize cash transaction”.
Accordingly, draft proposals for facilitating electronic transactions (E-transactions) have been prepared. Comments and views are invited on the Draft Proposals.
Draft Proposals For Facilitating Electronic Transactions (The Proposals placed below are only at the draft stage and are being placed here to obtain public opinion. The proposals as they stand at this stage, do not imply any commitment from the government)
The last date to share your views is 29 June, 2015 by 5:00 p.m.

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Showing 1250 Submission(s)
ajay shrivastava
ajay shrivastava 11 years 1 month ago
5. it is very dificult to keep bills, invoices, garranty/ warranty cards. if payment is made through cards there must be a online portal on basis of transaction no, a customer can asses all the details online whenever he require. 6. a certain bill amont shall be allowed in cash. otherwise it shall be either online or through CC or DC 7. CC providers should reduce intrest rate and other charges.
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ajay shrivastava
ajay shrivastava 11 years 1 month ago
2. many shopkeers tells ti costmore that the plastic currency transfers to their acount after 1 month. there must be immediate transfer system. 3. such type of shoftware must be developed that all the deductions towards govt revenue must be transfered to govt account directly. there should not be any further process. 4. CC & DC users also get incentive alongwith the shopkeepers so that they can force the shopkeeper to accept card
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ajay shrivastava
ajay shrivastava 11 years 1 month ago
Its a long awaited step to reduce cash transaction. big shopkeers, malls, petrol pumps and govt. machinery like electricity board, irctc, municipal corpiration, are accepting CC & DB. but still more then 50% of shopkeepers including small wenders still away from e- currency. 1. there is a fear in small shopkeepers that there transaction will countable and govt can force them to maintain books and pay tax.
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YASIR SHEIKH
YASIR SHEIKH 11 years 1 month ago
Please make MDR 0%. Tax benefit to merchant and consumer a good idea. Please dont impose anything mandatory as of now. Till the mobile network gains some credibility and maturity. Because it has often been seen that there are network failure or connectivity issue which leads to asking of cash from the merchant. Hence tranx may be canceled. So please dont impose (1) mandatory levy of cash handling charge, (2) mandetory Rs.1 lakh elec. tranx. Increasing of POS should be emphasized.
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Darshan Singh_1
Darshan Singh_1 11 years 1 month ago
Dear FM, e-transaction facility is a right step in fastening the economy. Debit/Credit cards can be used for this purpose. Main problem may come from the banks as they charge levy/surcharge from the Payee/Payer. If govt asks banks not to charge levy, I think this policy shall become popular within a few months. Even IMT, an already provided facility by the banks can be used for the bigger payments/dealings/transactions. It will also degenerate the black money, fear of snatching of cash.
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ARVIND RATHORE
ARVIND RATHORE 11 years 1 month ago
Bank withdrawl above a Rs. 1,50,000/- per year should be taxable and all the places where payment is being made in excess of Rs. 10,000/- or Rs. 50,000/-, like at hospitals, jewellers, property purchase, vehicle purchase, hotels and restaurants, etc., should be compulsorily through Debit or Credit Cards
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HOMI MULLA
HOMI MULLA 11 years 1 month ago
I wholeheartedly endorse the concept of rebate on IT for using Credit/Debit Cards. Currently it is a dis-incentive since many payments of such a kind especially in payment of Utility bills attracts a 1-3% levy.
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Bhoj Bolia
Bhoj Bolia 11 years 1 month ago
There should be only one ID & Add proof by merging PAN, AADHAAR, VOTER in to a single proof. All accounts, certificates, transactions, travels, purchases etc should be mandatorily contain this ID no. Analysis of these transactions will track income & expenses of that person / family. Incentive to person making e-transactions & charges for cash transactions. All govt receipt & payment through bank transactions.
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Manjunath MS
Manjunath MS 11 years 1 month ago
Collecting PropertyTax has been a major draw back in our country. Its been very inconvenient for the people as the rules are too much to understand and people end up paying bribe to pay the Tax. I have a plan --- 1) Club Electricity,water and property tax bill together. 2) The property Tax which we are collecting yearly can be divided and be billed monthly like including the electric city bill and water bill. 3)For those who dont have electric or water connection can follow the old procedure
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