The Central Government is set to introduce the ‘Mera Bill Mera Adhikar’ scheme, aimed at promoting the Goods and Services Tax (GST) invoice culture. This program targets states like Assam, Gujarat, Haryana, and UTs including Puducherry, Daman & Diu, and Dadra & Nagar Haveli. The scheme encourages consumers to demand invoices for purchases, promoting transparency. Participating customers stand a chance to win cash rewards ranging from Rs 10,000 to Rs 1 crore through monthly and quarterly lotteries. Invoices from GST-registered suppliers, with a minimum value of Rs 200, are eligible for entry. A mobile app will facilitate invoice uploading and tracking.
Facts/Terms for UPSC Prelims
- Goods and Services Tax (GST): A unified indirect tax introduced in India to replace multiple taxes on goods and services. GST aims to streamline taxation and create a single market across the country.
- Cash Incentive Program: A scheme offering monetary rewards to individuals or businesses as an incentive for certain actions. In this case, cash incentives encourage consumers to ask for proper invoices while making purchases.
- GST-Registered Suppliers: Businesses that are registered under the Goods and Services Tax system, enabling them to collect and remit taxes to the government based on their sales.
- GSTIN: Goods and Services Tax Identification Number is a unique identification number assigned to each GST-registered business. It’s used for tax-related transactions and compliance.
- Invoice Culture: Encouraging the practice of issuing and demanding proper invoices for purchases. This ensures transparency in transactions and helps in tax collection and compliance.