Reasonable credit card charges

unless ministry of finance /RBI come out with a circular this will linger more  

B'coz we do not have accountability of misdeeds done by system,and delay of justice. more  

Govt vigilance is essentially solicited. more  

I am using HDFC credit card for petrol payment in petrol pumps. The surcharge of 2.5 % is charged but reimbursed later in the statement. Debit card I do not know. more  

Sir, Kindly see my letter to the editor which was published in Business line . Encouraging card transaction has got lot of benefits for the customers in case card charges are waived. 1. One need not carry cash always. 2.No question of Small notes/ change problem 3. Credit period allows the customer to plan the payments. 4. No queston of pickpocket looting your money. 5. Credit card statement give you an account of your expenditure statement. 6. reward points give you a small relief in terms of money. Govt. also stands to benefit from the following reasons. 1.All transactions are transparent 2. Black money transactions can be controlled to a great extent. 3. Note printing expenses can be reduced to a great extent. Recently I had to pay cheque from my account for my flight ticket as travel agent asked me to pay 2 % of the value in addition. in foreign countries, credit card is accepted as an identity better than a government issued identity card. It is a welcome development that our Govt. has finally thought of this idea. Reply Debit, Credit Card Payments May Bring Income Tax Relief: 10 FactsThe government has proposed income tax benefits for individuals making payment through debit or credit cards. The move is aimed at encouraging non-cash transactions and curbing the flow of black money. The Finance Ministry has invited comments on these draft proposals by June 29, 2015, on the government's online platform mygov.in. Here's a 10-point cheat-sheet: 1) The government is considering income tax rebates for consumers who pay a certain proportion of their expenditure through electronic transactions. 2) There could also be no transaction charges on card payments at petrol pumps, gas agencies, and for railway tickets. 3) High value transactions of more than Rs 1 lakh may be allowed through electronic means only. 4) To encourage electronic transactions, the government also proposed new redressal mechanisms in cases of fraud. "In case of a fraudulent transaction, the money will be credited back to customer's account and blocked and subsequently released after the investigation is complete/ limited to say a maximum of 3 months," the proposal said. 5) It is estimated that less than 10 per cent of value of transactions in India are made electronically 6) Not just the consumers, the proposal also looks to extend benefits to merchants accepting electronic payments. " Appropriate tax rebate can be extended to a merchant if at least say 50 per cent value of the transactions is through electronic means. Alternatively, 1-2 per cent reduction in value added tax could be considered on all electronic transactions by the merchants," the draft proposal said. 7) Utility service providers like electricity companies and telecom operators could give a discount to users for payments made electronically, similar to BSNL, which provides an incentive of 1 per cent of the billed amount if the payment is done through electronic mode. 8) The government is also considering a levy of a nominal cash handling charge on transactions greater than a specified level. This means that beyond a certain amount if customers pay by cash they could be asked to pay a transaction fee. 9) At present, banks have to report the aggregate of all the payments made by a credit cardholder as one transaction, if such an amount is Rs 2 lakh in a year. To facilitate high value transactions, the ceiling of Rs 2 lakh could be increased to Rs 5 lakh or more. 10) The Finance Ministry has prepared the draft proposals after consultations with various stakeholders including RBI, public and private sector banks, card service providers, mobile service providers, and research institutions more