New Delhi, September 1, 2023: In a bid to promote tax compliance and bolster revenue collections, the Indian government unveiled the 'Mera Bill Mera Adhikaar' incentive scheme on Friday. The initiative encourages consumers to demand invoices at the point of purchase, targeting the states of Haryana, Assam, Gujarat, and the union territories of Dadra and Nagar Haveli, Daman and Diu, and Puducherry.
Under the scheme, consumers stand a chance to win attractive prizes, including Rs.1 crore, Rs.10 lakh, and Rs.10,000 as incentives. To be eligible for the draw, invoices with a minimum value of Rs.200, issued by GST-registered sellers, will be considered. Individuals can submit a maximum of 25 invoices per month.
Dushyant Chautala, the Deputy Chief Minister of Haryana, made this announcement during a press conference in Gurugram. Chautala revealed that the government plans to award rewards worth Rs.30 crore annually in these designated regions. He explained, "Any invoice exceeding Rs.200 can be uploaded using the 'Mera Bill Mera Adhikar' app, and every quarter, two lucky winners will receive Rs.1 crore each through a draw of lots. The app has already garnered over 50,000 downloads."
Sanjay Malhotra, the Revenue Secretary, outlined that the scheme is initially being launched for one year, with the possibility of extending it nationwide in the future. The primary objective of the program is to encourage consumers to insist on invoices at the time of purchase. This not only facilitates post-sale customer support, product replacement, or refunds but also promotes tax compliance within the retail sector.
Malhotra further elaborated on the positive economic indicators, noting that the nominal GDP had grown by 8% in the June quarter, while GST revenue collection showed robust growth. "During the first quarter, GST revenue increased by more than 11%, resulting in a tax-to-GDP ratio exceeding 1.3. This impressive performance is attributed to enhanced compliance and improved tax collection efficiency," he said.
Policymakers are hopeful that improved tax compliance and revenue collections will create opportunities to reduce tax rates. Chautala highlighted that monthly GST receipts for both the Centre and states have steadily risen, reaching Rs.1.6 trillion this year, up from around Rs.1 trillion in previous years. He emphasized, "As the revenue-neutral rate of GST has already been brought below 12%, the GST Council may consider further reductions if revenue continues to improve."
The 'Mera Bill Mera Adhikaar' scheme represents the latest effort by tax authorities to strengthen GST compliance. Central and state authorities have implemented various measures, including increased reporting requirements and data analytics utilization, to enhance tax compliance. These combined efforts, coupled with robust economic growth, have contributed to significant improvements in GST revenue collections.
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