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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)
SOMIL PAHUJA
SOMIL PAHUJA 11 years 1 month ago
Another suggestion,i would like to provide is to reduce Convenience Fee on transactions made through National Electronics Fund Transfer/Immediate Payment Service,so that people get encouraged to make payments through NEFT/IMPS.Third suggestion is,to make convinience fee "Nil",in cases of payments made towards electricity bill,booking railway tickets,paying insurance premium and paying utility bills.It is very important to make all these transactions free of convenience fee.
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RAHUL AGRAWAL
RAHUL AGRAWAL 11 years 1 month ago
Is is a great Idea to give tax benefits for each online transaction, also tax rebates can be give on the food bills,electricity bill, hospital bills where we have to pay 14 PC of service tax, 5-8 pc of VAS and 5-10 Percent of service charges, so as we are already paying the tax on income, again we have to 25-30 percent on these stupid taxes, its a burden on us
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Srikanth Garlapati
Srikanth Garlapati 11 years 1 month ago
I think the proposal is a good one. Actually our traders are more afraid of being 100% compliant. The officers harass them the most because they are kept under deep scrutiny as they will not be willing to pay bribes. Audits of VAT must be done by Chartered Accountants. In the name of exempted annual turnover and dealers who have opted for Turnover tax system (with some restrictions to sale) they are prevented from having a VAT registration number. Tax must be same for all.
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SOMIL PAHUJA
SOMIL PAHUJA 11 years 1 month ago
It is an ideal proposal for encouraging people to do cashless transactions.However,i would like to give some suggestions regarding this proposal.First;Government of India should do more to discourage payments made through cheques and for that,people and merchants should be encouraged to move in the direction of making payments through NEFT/IMPS and RTGS,apart from making payments through Debit and Credit Card.
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ADISHESHU CHENNOJU
ADISHESHU CHENNOJU 11 years 1 month ago
Sir, my suggestion is that Electronic Transactions must be mandated to all Educational Institutions (Govt. And Private)as it would me easy for the parents to pay School or Colleges huge fees now a days through Credit /Debit Cards & also it avoids going to ATMs where long queues ,with Empty ATMs going in search of ATMs saves Time an Risks &Private managements of Schools & Colleges would be easily get monitored with IT Dept., so that Education would not get Commercialize to worsen.
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Munish Soni
Munish Soni 11 years 1 month ago
Moving towards a cash less society may phase out many problems inbuilt in the system along with the risks associated with it. There is a need to make e-payments lucrative to common man. This can be achieved by making issuance of debit card free along with abolishing the annual fees that the bank do charge. Transaction which are common to all like petrol/LPG refills, mobile/cable/dish payments, grocery bill payments, telephone payments, electricity water bill be made free of transaction charges.
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N R VIVEKANANDAN
N R VIVEKANANDAN 11 years 1 month ago
It is considered as good step towards curbing black money and bringing all the transactions under scanner. 1.Proper infrastructure should be build in rural & urban areas. 2.Charges on electronic transactions should be eliminated to encourage more participants. 3.Discounts & income tax rebates should be given to individual consumers who opt for electronic transactions. 4.Government should collect yearly E-payment report from every government departments, PSU, State government.
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anish reddy
anish reddy 11 years 1 month ago
this is very good idea and rebate should be given for other stuff as well like rent tranasferred online hotel bills and travel all which can be qualified as expenses. So that people are rewarded esp the salaried ones who pay tax regularly and properly.And we should aim towards complete cash less payments and ban any note greater than 100 rs
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Hariharan G
Hariharan G 11 years 1 month ago
Good proposal. This will reduce illegal money flow. Major challenge in cash transaction, many merchants reluctant to provide the exact change. Instead they opt for issue chocolates and other items etc which totally illogical. Electronic transaction is the option for the future. All kind of additional charges tagged to e-transactions to be discontinued.
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