Starting today, you will not be charged any service tax when you use your credit or debit card for upto Rs. 2,000. Currently, you pay 15% as the tax on these transactions. The exemption is part of the government's all-out initiative to steer the country away from a cash economy to digital transactions. The tax breaks for using cards come exactly a month after Prime Minister Narendra Modi used an unscheduled televised address to announce that 500- and 1,000-rupee notes would, just hours later, be illegal. They can be deposited in banks till December 30.
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