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GST Council meeting: Lottery scheme with up to Rs 1 cr prize to get nod

Winners will be selected by the National Payments Corporation of India

BS Reporter 

GST, goods and service tax
The Consumer Welfare Fund (CWF), where anti-profiteering proceeds are deposited, will be used to fund the proposed lottery prizes.

The lottery scheme to encourage consumers to ask for an invoice is likely to have rewards in the range of Rs 10 lakh to Rs 1 crore a month. Winners will be selected by the National Payments Corporation of India. It will be on the lines of what the Delhi government had under its earlier Value Added Tax regime (in 2015) for consumers, said an official. The city government had introduced a 'Bill Banao, Inaam Pao' scheme at the time.

The Consumer Welfare Fund (CWF), where anti-profiteering proceeds are deposited, will be used to fund the proposed lottery prizes. According to the anti-profiteering rules under GST, suppliers of goods and services should pass on the commensurate benefit of any reduction in rates of tax or the benefit of ITC by commensurate reduction in prices. CWF was created by the central government for deposit by companies of amounts deemed profiteered, in cases where it cannot be returned to consumers. These are supposed to be then utilised for welfare of consumers.

Recently, the National Anti-profiteering Authority ordered Nestle to deposit Rs 90 crore in the CWF for not passing on the benefit of rate cuts to end-consumers.

First Published: Wed, March 11 2020. 23:55 IST
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