Punjab Finance Minister Harpal Singh Cheema Friday announced the launch of a new scheme to check theft of tax revenue by unscrupulous traders and shopkeepers. Cheema announced the scheme -‘Bill Leyao, Inaam Pao’ (Bring a bill, Get reward) – while presenting the 2023-24 state budget in the Punjab Vidhan Sabha here.
“In order to formalise financial transactions, educate the customer, and mop up GST (goods and service tax), I propose to introduce ‘Bill Leyao Inaam Pao’ Scheme in FY 2023-24. On the basis of a draw, monthly prizes will be given to people/customers who would submit their bills with the Taxation Department,” said Cheema in his budget speech.
Sharing details of the bill with reporters later, Cheema said, “anybody who purchases anything, suppose he buys a mobile, and gets a bill from a shopkeeper and gets that bill registered at a government portal. If that bill is found to be fake and the GST was not paid on it, action will be taken against the seller.”
And if the bill is found genuine, then that customer stands to receive a reward for helping the government prevent tax theft, he said.
Speaking on excise revenue, Cheema claimed that the AAP government had demolished the liquor mafia in the state.
There was a 45 per cent increase in revenue from excise duties for the first time, Cheema said, even as he accused the opposition parties of spreading propaganda against the state excise policy.
He said there was a jump of 26 per cent in non-tax revenue.
Cheema said that the revenue receipts have been projected at Rs 98,852 crore for the financial year 2023-24.
Talking about sector-wise increase in fund allocation proposed in the budget, Cheema said there is a 20 per cent increase in the agriculture sector, 12 per cent in education sector, 17 per cent in social welfare sector, 19 per cent in industry and commerce sector, 55 per cent in sports and youth services, 36 per cent in employment generation, and 11 per cent in the health sector.
Cheema said the government is set out to increasing tax collections from GST, excise, stamp duty, and other sources.
Source: THE ECONOMICS TIMES