PTI
New Delhi
To promote cashless transactions, the government had waived the Merchant Discount Rate (MDR) on fuel purchase post demonetisation for consumers. But after the expiry of the 50-day window, the banks have decided to levy MDR on petrol pump owners.
This meant petrol pumps having to bear 1 per cent on all credit card transactions and between 0.25 per cent and 1 per cent on all debit card transactions from January 9.
In protest of the move, petrol pump operators had decided not to accept card payments from tomorrow.
“We have received official communication from oil marketing companies that the transaction fee charges have been deferred till January 13, 2017. AIPDA also has decided to defer the agitation till January 13,” said Ajay Bansal, President, All India Petroleum Dealers Association (AIPDA).
Govt asks banks to obtain PAN from account holders
New Delhi: The government has asked banks to obtain PAN or Form-60 if PAN is not available, from all bank account holders by February 28, 2017. “Income-tax Rules have been amended to provide that bank shall obtain and link PAN or Form No. 60 (where PAN is not available) in all existing bank accounts (other than BSBDA) by February 28, 2017, if not already done,” a notification by the Central Board of Direct Taxes (CBDT) stated today.
