The central government is seriously considering launching a GST gift scheme (lottery) to encourage people to buy their products. According to sources, the prize money can be fixed at Rs 1 lakh to one crore rupees.
John Joseph, a member of the Federal Direct Taxes and Customs Board, told the Association of Industry Associates, Assocham Good, that consumers will have the opportunity to win every bill they receive, which will encourage merchants to pay their taxes on time.
Accordingly, each bill will have a prize number. Accordingly, there is a possibility of receiving GST award money. He said that customers who do not get bills to save 20 percent tax will lose Rs one crore or Rs 1 lakh, he said.
Now, as per the plans created, gift coupons for each GST bill will be uploaded to the website and will continue to grow over time. The lucky ones will be chosen accordingly and prizes will be announced. Currently the Goods and Services Tax (GST) is levied at four levels – 1, 12, 9 and 20 percent. Also, maximum tariffs are imposed on luxury goods, tobacco and alcohol.
This will be discussed with the state finance ministers at a GST council meeting chaired by Union Finance Minister Nir Mala Sitharaman.
It has been suggested that funds for this gift may be provided from the Consumer Welfare Fund.
The government is taking various steps to prevent GST tax evasion. Joseph said he is planning a QR code based GST transaction and enhancing this lottery gift system.
Officials have been instructed to look for ways to increase GST income. The officials also gave various suggestions. This is one of the rewards programs. It is also advisable to take steps to increase the number of taxpayers.