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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)

Udit Jain 11 years 1 month ago

To start with all the government offices should stop charging transactional charges on electronic mode of payment such as DJB, NDMC, BSES and IRCTC. Once done, it will encourage people to use electronic money more often.

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Manish Galada 11 years 1 month ago

Mainly there has to be ease of paying by card. Should be able to pay bus ticket parking charges. To make this easy contact less card will be a major step. The easy of using the contact less card will encourage all to use card payment everywhere. Only then can we move to a cashless society. No pin should be required for purchase less than 3000/- only then will the easy of using contact less card will increase. The merchant who accept credit card have to pay a almost 1.6 to 2.5% this high

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sagar arkadi 11 years 1 month ago

It is wonderful proposal. But the tax benefit on cards payment should be given to consumer instead of merchant. The reason is, when a merchant would accept electronics payment his income becomes legal and would attract tax (even though it will be less ) , but if he still accept cash payment, he may skip from the taxes (which they usually do). Instead if benefit is given to consumer , he will purchase from seller who accept card payments and this would indirectly compel to accepts card payments

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Anish Jain 11 years 1 month ago

Any of Products sold are without any Bill or Tax paid on it. So if consumer start paying through Card payment, shopkeepers have to complusory issue Bill which leads to increase in Tax collection. Many shops avoid Card Payment due to high bank charges so it leads to cash transaction and lastly loss of Tax collection. Reduce bank charges drastically and offer Vat rebate which would lead to more Plastic money and Tax collection. Bank charges should not be more than 0.5%.

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Anish Jain 11 years 1 month ago

Electronic Transaction is very much needed to curb on cash transaction which leads to black money generation. Bank charges on shopkeepers is very high. They charge around 1.5%-2%. To avoid such charges shopkeepers says no for Cards. Sometimes margin of shopkeepers on some products are equal to bank transaction charge of around 2% , so they ask 2% extra charge for swipping card. So please reduce bank charges on shopkeepers and 1% Vat rebate which lead to increase in plastic money.

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Puneet Goel 11 years 1 month ago

This will big leap toward a transparent and clean money transaction system. Well, every time when i/anybody choose to pay with my credit/debit card the first question comes to mind is, what are the benefit when i pay with plastic money?. But now having such rebates will encourage us to go for card payment in a single thought. I also feel that govt. should make it mandatory to have e-transaction machine (swipe machines) on shops/malls/fuel stations OR a atleast at fuel stations. Jai Hind !!

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Nasim Rijwee 11 years 1 month ago

It seems good proposal to reduce cash transaction and give extra tax benefit to debit/credt card payers. I think to increase debit/credit card transaction, Govt should give 100% waived off on all the surcharges/transactional charges.

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Nandkishore Kumar 11 years 1 month ago

My suggestion is to make facilities to accept debit/ credit at all shops is very important. And moreover most of shops (even big retail chain shops) and restaurant don't accept cards for transactions less than Rs 200. That should be corrected. Everyone should be able use their cards at everyplace for any small amount without any additional charges

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yogananda reddy gangi 11 years 1 month ago

In my opinion, facilitating electronic transactions is need of the hour. Currently many merchants won't accept card transactions and accept only cash so that they can avoid the tax. Mandating electronic transactions for the transactions valuing more than some minimum value (say 5K) is must in my opinion. Also waving of the surcharges/transactional charges on electronic transactions for purchases like Petrol, electronics etc. is required. This will encourage the public to use credit/debit cards.

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Maddirala Rao 11 years 1 month ago

Hard earned money by tax payer should be respected. After so long I see a very good proposal from the Govt of India which helps individual citizens. Please force the proposal as a Law.

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