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SBI Cashback Credit Card – 5% Cashback on Tax Payments!
- Thread starter TechnoFino
- Start date
- Replies 98
- Views 5K
People f
Many People dont know how to read MITC and what are their rights. Keeps on blaming people sharing official data available and keep doing fear mongering, if there is i issue with wrong mcc on ITD platform then its not users fault or influencers fault.
9399 MCC is for Govt txns. If you search the pdf by typing gov you will find page with that also mentioned.
Will dcb (non metal) also work?
What are the additional charges for using any credit card for tax payments?
I noticed that for SBI Bank gateway transaction charges are mentioned as "Not applicable" for debit and credit card from any bank. So is it correct that it has no charges at all?
That mean it does not even allow payments from DC or CC.
yep dcbm milestone will work, use hdfc gateway with 0.72% charges for hdfc cc
nikhilv0303
TF Ace
DCB non-metal will work but not much benefit. Monthly milestone of 80k gives Rs 500 or 1000 vouchers.. you would spend ~570 extra for using CC
If you want to hit fee waiver milestone, then it’s okay
s73uresh
TF Select
Sorry we can use AGV balance to make utility payments and not tax
9399 is classified under utility by sbi and tax payment has dedicated 9311 so everything is according to terms and conditions.
Yes, agree but main point is no matter in which category they put it in, txns identified under 9399 won't get any cashback. I was talking about General thing where 9399 is kept for Govt related txns.
Yes tax payments are always identified under 9311.
Well, you can take this detour and hope for a cash back...
make the tax payment for the due tax again (if you can do it - have not checked if you can)
or make some advance tax payment (equal to the tax amount that you just paid) for this FY;
then file for a refund for the additional amount you paid (either this AY or next AY);
this way you will get the cashback for the additional tax paid.
This might just work.
You can do a cost-benefit analysis, based on your factual data and use case, before trying this out, if it still appeals to you.
Hope this helps. 🙂
NikhilG
TF Ace
Why do you think, that sbi can't reverse the cashback?
The Merchant Category Code (MCC) 9399 is designated as "Government Services – Not Elsewhere Classified" and is specifically intended for government-related transactions that do not fall under more detailed governmental MCCs. It is important to note that 9399 does not encompass all government services. For instance, tax payments are generally recorded under MCC 9311, immigration services under MCC 9366, and postal services under MCC 9402. Each of these categories has its own dedicated MCC.
So I think as per t&c we are eligible for cashback on 9311 Tax payments. We can legally fight if they reverse in future.
Did I wrote something else?
Point is you can legally fight but can't legally fight if and when SBI proves Tax is also under Govt services and one of their terms tells cashback is not for Govt services.
When things go legal, everything becomes illegal. Banks have done such things which customer can never think off. But as I said before, it is legally challengeable and I think you have missed that post. It was told beforehand.
Keh toh diya jisko karna hai karo, agar wapas huya toh rona mat bas.
nikhilv0303
TF Ace
Satya vachan 🙂 !
NikhilG
TF Ace
Mere hisab se better hai ki 10k karo AU lit se. Baki thora sa idfc dc rupay se karo aur thora sa sbi cashback card se
nikhilv0303
TF Ace
Last month to do via IDFC DC.. next month onwards 9311 is excludes
NikhilG
TF Ace
Yeah I'm already in 2.5 percent, hope they let me redeem it during sale period on 23rd. Are they ready to redeem on 14th day or after 14 days?
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