Service charges to cancelled for debit and credit card
Central government cabinet ministry is headed by the Prime Minister Narendra Modi. At the meeting, central government has approved the cancellation of service taxes on all credit & debit cards. As to encourage all electronic financial transaction and to prevent failure or cheating tax payment at the direct financial transactions of very high amounts this cancellation of service charges for credit/debit cards has been approved. Central government has strongly recommended all large financial transaction to be carried out only through electronic means by way of credit/debit cards.