No more cards – Get ready to pay by cash on all petrol pumps!

Since government’s plan of demonetization came into play in November, the cashless transactions went up to more than 95%. Also, the government announced to waive off the Merchant Discount Rate (MDR) on fuel purchase post demonetization for consumers, which was set for the window of 50 days since the start of demonetization.

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The twist in the story is that now, the petroleum dealers’ association had written to Union finance minister Arun Jaitley, informing about the tax imposed on the petroleum dealers for the plastic money transactions. Earlier, the dealers announced that they will not be accepting credit/debit card payment since midnight today but since the government stepped in and assured that the taxed won’t be imposed till 13th January, the date has been currently delayed till 13th.

“We want to help the government in the digital and cashless drive. Our margins are already less. We want them to compensate us,” Ajay Bansal, chief of All-India Petroleum Dealers’ Association, had said.

 

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