CMs Committee on Digital Payments

The CMs Committee on Digital Payments led by the convener and Andhra Pradesh Chief Minister, Chandra Babu Naidu submitted the interim report on Digital Payments to the Prime Minister on January 24, 2017.

The Recommendations

Formulate Incentive Structure & Remove disincentives to make digital payments more attractive than cash:

• Relief in prospective taxes for encouraging merchants to accept digital payments & no retrospective taxation to Merchants doing digital transactions.
• Tax incentives to be extended to Micro ATMs, Biometric Sensors etc. Domestic production to be encouraged.
• Tax refund for consumers using digital payment upto a certain proportion of annual income.
• For Aadhaar Pay, ....