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Point of Sale (POS) Devices and Goods required for their manufacture exempted from Central Excise Duty till March 31 2017

News and Press Release - Dated:- 29-11-2016 - The Government has demonetised the currency notes of ₹ 500 and ₹ 1,000 with effect from mid-night of 8th-9th November, 2016. Along with this, the Government has also laid increased emphasis on promoting digital payments. Point of Sale (POS) devices are used for cashless transactions, both for making payments or disbursing cash. POS do not attract any basic customs duty. To further reduce the cost of such devices and thereby encourage digi .....

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