Government has removed excise duty on goods for manufacturing of Point of Sale machines till 31st of March next year.<br/><br/>The POS machines are hand-held devices which are used by merchants to accept payments for goods sold through credit and debit cards.<br/><br/>A notification to this effect was tabled by Finance Minister Arun Jaitley in the Lok Sabha today amid uproar over the demonetisation issue. <br/><br/>The notification exempts Central Excise duty on all goods for manufacture of POS devices subject to actual user condition. It said, these exemptions will be valid till 31st of March, 2017.<br/><br/>There has been increase in demand for POS machines on account of cash crunch following demonitisation of high value currency notes by the government with effect from mid-night of November 8.

Government has removed excise duty on goods for manufacturing of Point of Sale machines till 31st of March next year.<br/><br/>The POS machines are hand-held devices which are used by merchants to accept payments for goods sold through credit and debit cards.<br/><br/>A notification to this effect was tabled by Finance Minister Arun Jaitley in the Lok Sabha today amid uproar over the demonetisation issue. <br/><br/>The notification exempts Central Excise duty on all goods for manufacture of POS devices subject to actual user condition. It said, these exemptions will be valid till 31st of March, 2017.<br/><br/>There has been increase in demand for POS machines on account of cash crunch following demonitisation of high value currency notes by the government with effect from mid-night of November 8.