RS. 2000 SUSHI NA PAYMENT PAR GST MA 2% NI CHHUT MALSHE:- NEWS REPORT.
The government wants to give less-cash economy a major push by
incentivising digital transactions with a possible cash back offer or
discount of 2 per cent on bills up to Rs 2,000. The 2% incentive will be
over the applicable GST tax rate. The Times of India, citing sources,
reported that the Finance Ministry, the RBI, cabinet secretariat,
ministry of electronics and IT were holding discussions over the
proposal.
The government, specifically, wants to encourage people to use digital
methods for day to day smaller transactions. The Ministry of Information
and Technology is believed to be spearheading the effort and planning
methods to promote digital transactions.
In fact, IT minister Ravi Shankar Prasad and other senior officials
reportedly attended a meeting to discuss the progress in digital
transactions since demonetisation. The government plans to offer the 2
per cent discount to transactions up to Rs 2,000 because such
transactions are high in volume.
"Transactions of up to Rs 2,000 are very high in volumes and if an
incentive can be given here, it will provide an impetus to digital
payments while facilitating the entry of more people within the formal
economy. This will help plug leakages while playing a credible part in
countering the development of black money," The Time of India quoted the
source as saying.
The government has been stressing on digital transactions ever since
Prime Minister Narendra Modi announced the decision to demonetise Rs 500
and Rs 1000 in November last year. The government has been repeatedly
taking steps to reduce cash transactions and increase digital
transactions.