GST Lottery: Government Giving Chance to win 1 Crore Rupees
The government is coming up with a new lottery scheme in which any common citizen of the country can win up to 1 crore rupees. The government is giving you a chance to win between Rs 10 lakh and Rs 1 crore under the new GST lottery scheme. The government’s new scheme aims to encourage customers to collect bills at the time of purchase. Under the lottery scheme, you have to collect the bill from the shopkeeper for every purchase. John Joseph, a member of the Central Board of Indirect Taxes and Customs, or CBIC, said that every bill taken under GST would give customers a chance to win the lottery. It will also serve as an incentive for them to pay tax. If you have been shopping without bills till now, then you have to change your style. Every purchase bill can give you a chance to win up to 1 crore rupees.
Winner will be declared through lucky draw
According to the Economic Times report, Joseph said at an ASSOCHAM event that we have come up with a new lottery system, in which every bill under GST will be treated as a price-winning lottery ticket. Then all the bills will be kept for the lucky draw. According to Joseph, the reward is so strong that people have the chance to win between Rs 10 lakh and Rs 1 crore by not saving 28 percent tax. This is a step to change consumer behaviour. As per the plan, the bill of purchase will be uploaded on a portal and a draw will be conducted automatically, on which the names of the winners will be communicated.
What is GST tax rate slab?
Goods and services are taxed at 5, 12, 18 and 28 percent under the four-tier GST. Apart from this, cess is also levied on luxury, mess and bad goods at the top of the highest tax rate. The GST Council headed by Finance Minister Nirmala Sitharaman and Finance Ministers of the states will implement the proposed lottery scheme. According to the plan, the lottery money will come from the Consumer Welfare Fund, where the anti-profiteering income is transferred.
Emphasis on increasing GST collection
The government is laying great emphasis on increasing the GST collection. The government is considering various options in business-to-consumer deals, including encouraging lotteries and QR code-based transactions. Apart from this, a committee of officials has also been formed to suggest measures on increasing GST revenue collection. This committee has also been given the responsibility of suggesting systemic changes in GST, including checks and balances. Also, measures are being taken to prevent abuse and improve voluntary compliance.
