The Authorities To Introduce A GST Reward Scheme Beginning On September 1, 2023

From September 1, the federal government will introduce the ‘Mera Invoice Mera Adhikar’ bill incentive system, which might award money prizes starting from Rs 10,000 to Rs 1 crore and can start with six states and union territories. The initiative might be launched within the states of Assam, Gujarat, and Haryana, in addition to the union territories of Puducherry, Daman & Diu, and Dadra & Nagar Haveli, in line with the Central Board of Oblique Taxes and Customs (CBIC). 

CIBC mentioned within the tweet “Mera Invoice Mera Adhikaar! Scheme to be launched from September 01, 2023, in states of Haryana, Assam, Gujarat & UTs of Dadra & Nagar Haveli, Daman & Diu & Puducherry. Bill incentive scheme which lets you earn money prizes on add of GST Invoices,” 

In an earlier tweet, the oblique taxation authority acknowledged that every one invoices issued to prospects by suppliers registered beneath the Items and Companies Tax (GST) might be eligible for this effort. Winners of the month-to-month and quarterly attracts have the chance to win money prizes starting from Rs 10,000 to Rs 1 crore.

To be eligible for the lucky draw, an bill will need to have a minimal buy worth of Rs 200. Starting in September, every person will be capable of add a restrict of 25 invoices every month. The ‘Mera Invoice Mera Adhikar’ cellular utility might be out there on each IOS and Android platforms to assist on this process. The submitted bill ought to embrace essential info together with the vendor’s GSTIN, bill quantity, quantity paid, and tax quantity.

To curb GST avoidance, the federal government has already imposed e-invoices for all B2B transactions with an annual turnover of greater than Rs 5 crore. Now, a brand new initiative is being launched to broaden digital bill use to Enterprise-to-Client (B2C) contacts, boosting transparency and engagement.

In keeping with varied sources on August 20, this newly introduced initiative won’t solely encourage the event of digital invoices on the B2C stage however can even enable purchasers to take part in a fortunate draw primarily based on these invoices. In keeping with an official, the primary objective is to encourage patrons to demand real invoices from sellers in B2C transactions involving the acquisition of services or products.