Latest GK GS

Updated By: LatestGKGS Desk

Government to issue notification waiving service tax till Rs.2000

 

 

Finance Minister Arun Jailey to issue notification for waiving service tax upto Rs.2000 on debit or credit cards

The government of India to waive service tax on debit and credit card till the transactions of Rs.2000 to promote cashless transactions.

The government has decided to exempt services by an enquiring bank to any person in payment of Rs.2000 in a single transaction through debit or credit card.

This notification will be tabled by Finance Minister Arun Jaitley in the Parliament.

Service tax notification of 2012 to be amended

After the demonetisation, there has been a cash crunch in the country, people are standing in lines at the banks and ATMs for hours.

The government taking the decision will promote digital transactions in the country moving towards cashless economy.

The service tax notification of 2012 will be amended to include the exemption of service taxon debit or credit cards.


 

Latest Service Tax Updates

» Amendment of Child Labour Act 2016 by Government for Adolescence

» Social Security Coverage Schemes under Unorganised Workers Act

» NITI Aayog's policy to double farmers income in 5 years reforms