IRCTC has come forward with a key decision. With the ban of big notes, there has been a cash crunch all over the country, especially for smaller denominations. People are facing many problems with lack of change and the economy is badly hit with this. Though the government has taken many steps, the chaos will take a lot of time to end. At a time when the country is facing cash crunch, IRCTC came up with a plan to encourage cashless online transactions.
It announced that there will be no service tax for all online purchases till 31st of December. This means there will be no service tax for online ticket booking. IRCTC opined this will relieve some of the pressure people are facing with lack of smaller denominations.