GST Latest News – Online Lottery Scheme (Daily / Monthly) for Customers Paying GST

Central govt. plans Online Lottery Scheme for GST Paying Customers (latest news) to prevent tax evasion, upload bills at portal to win daily / monthly rewards

Views: 2373 | Dated: November 27, 2019 | Updated On: November 27, 2019 | By: Karan Chhabra | | By | Beneficiaries: |
GST Latest News – Online Lottery Scheme (Daily / Monthly) for Customers Paying GST

Ministry of Finance plans to start an Online Lottery Scheme (daily / monthly) to lure customers to pay Goods and Services Tax (GST). As latest news, it is important to know that central govt. will launch this Online Lottery Scheme for GST Paying Customers soon. This scheme will be a step to improve compliance and check on tax leakage.

Lottery Scheme plan for GST payees is to hold daily and monthly lotteries for customers who take copy of bill after paying GST for business to consumer transactions. Various rewards either in cash or incentives (to be decided) are to be given to the people.

All those people who pays GST on time on daily / monthly basis will be able to apply online for Lottery Scheme for GST payees. This scheme will encourage people to pay their tax on time and get proper bills after making payment.

GST Customers Online Lottery Scheme (Daily / Monthly) Portal

GST paying Customers Online Lottery Scheme portal would be launched by the Indian government. All the bills would have to be uploaded on that dedicated portal or app which will be made later. The online GST lottery portal or app will auto-capture phone number, bill number and GST number of traders. These details would be helpful in selecting the names of winners of online lottery scheme for GST Paying Customers. After reaching the consensus at officers level, online GST Lottery scheme plan will be put before GST council in the meeting.

Monthly rewards for GST lottery will be high to attract customers to pay GST and this will also raise GST collections. Central govt. will decide minimum threshold for bills to participate in GST Online Lottery Scheme. However, water and electricity bills would not be considered valid for participation in this scheme.

GST Customers Online Lottery Scheme Prize

The prize for the online lottery scheme for GST paying customers would come from the consumer welfare fund. This new scheme for taxpayers would follow the similar lines of Delhi govt’s scheme to reward customers for paying Value Added Tax (VAT).

Delhi govt. had previously introduced Bill Banao, Inaam Pao Scheme in 2015 during VAT regime. As per that scheme by Delhi government, customer was eligible for prize of 5 times the taxable value to a maximum limit of Rs. 50,000 in case he made purchase from registered dealer. The minimum taxable value of goods was Rs. 100 and included eateries.

This Online Lottery Scheme for GST paying customers will help in keeping a check on traders who collects GST from people but not deposits the same amount to government. After making system, there will be reduced number of cases of forging entries due to fear of getting caught.

SAVE AS PDF Source / Reference Link: https://www.aninews.in/news/business/centre-planning-to-come-up-with-lottery-scheme-for-gst-paying-customers20191126190111/
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