A 15 per cent tax was charged on such transactions in December 2016.
N/A, quarterly total (a n/A,.85,000 1,027,.180.
The merchant discount rate (MDR) will be borne by the government for two years with effect from January 1, 2018 by reimbursing the same to the banks, it was announced.
Exactly a month after the shock demonetisation of old 500 and 1,000 rupee notes, the government had on December 8, 2016 announced a raft of measures, including discounts on online payments for insurance policies, rail tickets and highway toll charges as the government looked.Learn more, citibank Credit / Debit, card.In December last year, the government announced that it will bear the MDR charges on transactions up to Rs 2,000 made through debit cards, bhim UPI or Aadhaar-enabled payment systems to promote digital transactions.Initially, after demonetisation, the government started providing a discount or cashback.75 per cent on total fuel charges paid through digital payment system.People who paid digitally or used prepaid cards got a 10 per cent discount at toll plazas on highways."As a part of these initiatives, to promote cashless transactions Government of India has announced to incentivise petrol /diesel customers transacting at PSU petrol pumps by way.75 per cent discount when a customer uses Debit/Credit Cards, Mobile Wallets and Prepaid Loyalty Cards.The.75 per cent discount on payments made using either credit/debit cards, e-wallets or mobile wallets translated into a rebate of 57 paisa a litre on petrol and 50 paisa on diesel.Sources said as cash came back into system, digital payments have declined.Only a month after the demonetisation of old 500 and 1,000 rupee currency notes, the government announced a number of measures, including discounts on online payments for insurance policies, rail tickets and toll charges as the government looked to promote plastic currency.
Turbo Points earned, savings of 1 on fuel surcharge (Rs.) (estimated average) (1 Turbo pt 1Rs.
Fractions have been rounded off to the nearest number.
The digital payment has declined drastically, as cash came back in the system, but for the oil companies it increased from 10 per cent in 2016 to 25 per cent in 2018.
Yearly earnings 4x(a n/A,.3,40,000 4,107,.720, total earnings.
Enjoy year long petrol savings at Esso with Citibank, learn more, search.NEW delhi: Less than 20 months after a cashback was offered at petrol pumps to promote digital payment, the incentive has been cut.25 per cent from.75 per cent, people with knowledge of the development said.Oil companies have now informed the petrol pump operators that the discount has been cut.25 per cent, they said citing mobile text message sent to petrol pump operators.Card works everyday to earn you free fuel.To find a participating outlet near you, visit the rewards page.
Also, a waiver of service tax on use of credit or debit card for payments up to Rs 2,000 was announced then.
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Calculated with.67.84 as the average price of petrol in New Delhi for the calendar year 2017.