New GST incentive scheme will encourage customers to demand payments

Items and Companies Tax (GST) authorities will introduce a scheme from 1 September to encourage customers to insist on an bill when making purchases, the finance ministry stated in a social media submit on Sunday.

The scheme, referred to as ‘mera invoice mera adhikaar’, shall be launched in Haryana, Assam, Gujarat and the union territories of Dadra and Nagar Haveli, Daman and Diu, and Puducherry, the ministry stated. It stated the scheme will provide residents the possibility to win ₹1 crore, ₹10 lakh or ₹10,000 in a fortunate draw.

Invoices of as much as ₹200 issued by GST registered sellers shall be eligible for the draw. As much as 25 invoices per particular person shall be thought of each month, the ministry stated.

That is the most recent effort by tax authorities to extend GST compliance. Central and state authorities have beforehand taken a number of steps, corresponding to elevated reporting necessities and use of information analytics, to enhance tax compliance. This, together with wholesome financial development, has helped enhance GST collections. The union authorities and states collected ₹1.65 trillion in July, the third-largest month-to-month sum since GST was launched in 2017.

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Up to date: 20 Aug 2023, 04:40 PM IST

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