Thursday, March 23, 2017

Going cashless a curse

First it was demonetisation and now it is go cashless.

By | 02 Jan, 2017, 04:54AM IST

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Who are these people who bring these rules into the domain of better governance rather than see if the same can be actually implement in such a vast country as ours. Have they actually applied their minds to whether these new reforms would affect the common man or not? Who are these so called economists who leave in an unreal world rather than being down to earth people? Can an engineer who does not know anything about finance or accountancy tell us to go cashless? Who are the people who advise the Government? Why were there so many changes done to implant the same? You confuse.
Now we will go to the issue of going cashless. Who are these people telling us that the Government Departments have all gone cashless? Name the departments that have gone cashless. Can the Government tell us that all departments have gone cashless and cannot accept cash in lieu of the services rendered to us? When you go cashless they should not be any third party to cash into a transaction. It should be between bank to bank and not through a third party where the service providers suffer. If you transfer from bank to bank a simple charge is taken if it is other than from bank to bank of the same bank. But with these new apps that have come, they charge you 2% service charge of the transfer plus taxes. So these transfers are unacceptable by the service providers. This means that these apps make money at our costs as well as take the taxes to pay the Government at our cost. So these people as well as the Government go laughing to the bank to claim their dues. Is this how the taxation to the dealer is done.
By the way we also have to pay commercial taxes on the revenue we receive. So not only are we paying the transfer of money through these new apps but also to the government from them taking the money from us and also paying commercial tax as luxury tax, service tax, etc. So we are paying four-fold in services taxation on the money we receive for our businesses. Before bringing new ordinances or reforms we do not want the government to tell us what is good for us but make it the responsibility of people like from the RBI and other experts to speak out and tell us why there was a shortage of lower denomination notes but were flooded with higher denomination notes that were as useless to us as the demonetised notes of Rs 500 and Rs 1000 notes that were invalid from November 8, 2016 as we could not get change for the Rs 2000 notes. The country needs to know.