Steps on for cashless payment
Source: The Sangai Express
Imphal, January 05 2017:
Consequent upon the demonetisation of Rs 500 and Rs 1000 notes to promote, encourage and further accelerate adoption of digital modes of payments across all stakeholders, the Government of India and the Reserve Bank of India have taken up various steps; one of which, has been to bring down the cost of digital transactions.
This was conveyed by an office memorandum issued by Commissioner (Finance), Government of Manipur.
In order to encourage the small traders/customers to adopt POS mode of payment while also increasing overall sale in the context of lower availability of cash in the system, the State Government shall incentivise customers by giving discount @ 3 percent per transaction for payment made by customers through POS up to per transaction ceiling limit of Rs 5000 .
The State Government shall bear the transaction charge/MDR and the service tax thereon involved on account of digital/cashless mode of payments subject to the maximum limit of such charges levied by the Public Sector Banks.
However, to the extent such charges (if any) are borne by the Government of India or any other organisation, the support by the State Government shall be reduced accordingly, the office memorandum said.
It explained that the steps were taken up after examining the issues from all perspectives and with a view to promote digital payments across the State, accelerate migration of Government payments/collections to cashless/less cash mode to the maximum extent possible and to provide access to digital payments and services to the citizens.
It also informed that this will come into force from January 1, 2017 for a period of three months on a pilot basis, which will be reviewed in the month of April, 2017 and that detailed guidelines in this regard shall be issued by the Taxation Department separately.