India : Declare 2017 as 'Less Cash Year': CAIT to PM

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Home / Knowledge / News / Apparel/Garments / Declare 2017 as 'Less Cash Year': CAIT to PM

Declare 2017 as 'Less Cash Year': CAIT to PM

19
Dec '16

The Confederation of All India Traders (CAIT) has urged prime minister Narendra Modi to declare 2017 as ‘Less Cash Year’ in the country. The appeal aims to motivate traders to adopt digital payment system at both the levels, i.e. B2C and B2B. Since 2015, CAIT has been strongly advocating the need for adoption of electronic payment in the trading community.

In a bid to promote the digital payments among the traders, CAIT has planned a national campaign in the country, informed CAIT president BC Bhartia. The 60-day campaign will be launched from January 1, 2017. During the campaign, CAIT will hold conferences on digital payment in various states which will be attended by leaders of trade associations from various states. Camps will also be organised in markets across the country for acceptance of digital payments.

In association with local trade associations, CAIT will also conduct outdoor publicity campaign to promote digital payments. Traders will be made aware of the benefits of digital payment through short videos and whatsapp clippings. Less Cash march, street plays, seminars, workshops and training camps will also be held in markets across India as part of the awareness programme.

“In the wake of GST taxation system, every trader needs to adopt digital payments. Under GST, the tax payment is proposed to be made only through credit card or debit card, NIFT or RTGS. Cash or cheque is not allowed for tax payments. On the other hand, various state governments are contemplating to receive government revenue only through digital payments. Therefore, it will be advantageous for the traders to adopt digital payments at this point of time to enable them to comply with the provisions of GST and that of several other revenues which needs to be deposited with the government,” said Bhartia. (RR)

Fibre2Fashion News Desk – India

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