{"id":7714,"date":"2018-08-06T18:13:34","date_gmt":"2018-08-06T12:43:34","guid":{"rendered":"https:\/\/www.instamojo.com\/blog\/?p=7714"},"modified":"2020-11-18T18:30:46","modified_gmt":"2020-11-18T13:00:46","slug":"gst-cashback-digital-payments-india","status":"publish","type":"post","link":"https:\/\/www.instamojo.com\/blog\/gst-cashback-digital-payments-india\/","title":{"rendered":"Government to Offer GST Cashback on Digital Payments"},"content":{"rendered":"

Are you a frequent user of Rupay debit cards, BHIM app, Aadhaar, UPI or USSD transactions? If yes, you may now enjoy a special GST cashback.<\/p>\n

In an attempt to promote cashless transactions<\/span><\/a> in rural and semi-rural India, the government will now enable volunteering states to\u00a0provide a 20% cashback\u00a0to customers using one of the above-mentioned modes of digital payments<\/strong> (subject to a maximum limit of Rs. 100). The government is testing the cashback offer with volunteer states and is preparing a\u00a0software and backend<\/a><\/span>\u00a0to\u00a0roll out the pilot.<\/p>\n

The government hopes the GST cashback will not only help push the digital India initiative but also help build the economy as a whole.<\/p>\n

Re-Look at the MSME Laws<\/h2>\n

The GST Council has also promised to relook into the law, procedures and the rates related to the MSMEs; to help ease operations. While larger businesses bring in more tax, smaller businesses help increase the employment rates in the country.<\/p>\n

Digital payments in India is set to become a\u00a0trillion dollar market.<\/a><\/span>\u00a0As more global\u00a0giants enter the Indian business ecosystem, mobile payments could see a boom.<\/p>\n

Our take on GST Cashback:<\/h2>\n

Even though India has the largest mobile users, there is a huge gap to be filled. Over 40% of India still does not have a bank account!\u00a0<\/strong>Nearly, 80% of payments are made through cash.<\/p>\n

The GST cashback can be an ideal way of pushing this population to adopt cashless transactions.<\/p>\n

Tax experts deem it a welcome move with a rather small impact on revenue. It is also an effective way for the government to maintain a database<\/a><\/span> containing the digital footprint of their taxpayers.<\/p>\n

If your State has volunteered\u00a0for the pilot, you will be eligible for a cashback on your transactions. With Instamojo, you can now not only enjoy safe and secure digital transactions<\/a><\/span> but also let your customers avail this cashback. Give your customers the freedom to pay with any mode including BHIM UPI<\/a><\/span>, Rupay<\/span><\/a> and more.<\/p>\n

\n

START WITH INSTAMOJO<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Are you a frequent user of Rupay debit cards, BHIM app, Aadhaar, UPI or USSD transactions? If yes,…\n","protected":false},"author":6,"featured_media":7717,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[762,157,199,200,29,103,19,16,154,181,241,187,271,155],"yoast_head":"\nGovernment to Offer GST Cashback on Digital Payments<\/title>\n<meta name=\"description\" content=\"Are you a frequent user of Rupay debit cards, BHIM app, Aadhaar, UPI or USSD transactions? If yes, you may now be able to enjoy GST cashback. 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