Skip to Content

Saturday, February 27th, 2021

Government Removes All Taxes On Point Of Sales Machines To Push E-Payments

Be First!
image_pdfimage_print

pos1In a move to push digital payments, the government on Wednesday removed all duties on devices used in the process of cashless transactions like point of sales machines, finger print readers etc. Finance Minister Arun Jaitley said in his budget speech, “To promote cashless transactions, I propose to exempt BCD (basic custom duties), excise duties, CVD (countervailing duties), SAD (special additional duty) on miniaturised card readers and mPOS micro atms standards for version 1.5.1, finger print readers, scanners and iris scanners.”

The minister also exempted components from taxes to encourage domestic manufacturing of these devices.

 

Previous
Next

Leave a Reply

Your email address will not be published. Required fields are marked *

*