The big demonetisation sops for rail travelers on booking of online train tickets are set to end on September 1. The government has allowed the Indian Railway Catering and Tourism Corporation (IRCTC) to bring back service charge on online ticketing, as it plans to come out with the initial public offering (IPO) of its tourism and catering arm.
To push online transactions after demonetisation, the ministry of finance had removed the charges levied by IRCTC on passengers for booking railway tickets online as service charge. The charges were Rs 20 per ticket for non-air conditioned (AC) classes and Rs 40 per ticket for AC classes excluding service tax.
The decision on November 22, 2016 had wiped out the entire revenue of the railway arm to the tune of around Rs 500 crore per annum for the last two years. Read More
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