Business Line ( 19 Sept ) carries following news :
Highlights :
At the heart of the first proposal is the recognition that
the invoice – which
validates every sale of goods or of a service – is the
main document in any transaction and can capture the value chain and the tax.
The invoice has all the details the taxman needs:
·
the names of the seller and the buyer,
·
the supply date,
·
a description
of the goods or service,
·
the value, and
·
the tax.
The Committee has proposed that each invoice bear a ‘distinct
invoice number’ (DIN), which will be obtained by the seller, if necessary in
bulk, from the GST server, and used serially.
The buyer of the goods or the service must cite the DIN when
he, after value addition, raises his own invoice (with its own DIN), to claim a
tax credit.
Since both the invoices are uploaded in the GST server, the
two can be matched.
For B2C transactions, the proposal is for every citizen to
obtain a ‘consumer number’.
After a transaction (say, eating at a restaurant), the consumer
can log on to the GST portal and match the DIN (cited
in the restaurant bill) with his/her consumer number.
That validates the fact that the consumer paid GST on the
transaction; if no GST is remitted against the DIN, the seller (restaurant
owner) will be punishable.
In turn, the consumer can be rewarded for his troubles, perhaps
in the form of tax concessions.
While welcoming this ( belated ) realization of the
need for simplifying the GST process , I urge the “ Committee on Invoice “ to consider my following
suggestions :
Jan
Dhan Sarjan Yojana ( 31 Aug 2015 )
By launching , Jan Dhan Sarjan Yojana
( People's Wealth Creation Scheme )
As follows :
* If GST is going to be ( say ) 20 % ,
Government will transfer from this ,
2 % ( ie 10 % of that 20 % ) , to the
PPF account of the Consumer /
Buyer , who pays for the Goods /
Services purchased , using a RuPay
Card or a " Mobile
Wallet " app
This will motivate millions of self -
employed to open PPF accounts !
* Since interest from
a PPF account is tax-free , every citizen would , now
want to make all payments thru RuPay
card or a Mobile Wallet App
* RuPay cards are already tied up with
accounts opened under Jan Dhan
Yojana
* Mobile Wallets Apps will also get
tied-up with thousands of branches of
Payment Banks , which will open in next
18 months
Just imagine the number of new accounts
that will get opened in the
1,55,000 + post offices of India
Post !
* In this way , Social Security will become "
Self Financing " !
* Currently , in India , some 97 % of
all payments are " Cash Payments ".
With introduction of this proposal ,
these will drastically decline
* Any payment made , using RuPay card or a
Mobile Wallet App , will make
available to the Income Tax Department ,
full digitized record of each
such transaction , including :
* Who made the payment
* To whom was that payment made
* When was that payment made
* For what purchase , was that payment
made
* What was the amount paid
* One , very desirable consequence of
Jan Dhan Sarjan Yojana
will be that our
" Domestic Savings Rate " will climb back to 30 % !
In turn , this will help us
wither global economic crisis , much better !
When
BHIM is here, can ARJUN be far away ?
[ 30 Dec
2016 ]
Dear Shri Amitabh :
Like you ( and of course , Shri Modiji ) , I have a great faith
in the ability of Indian software engineers ( local or NRI ) to come up with
revolutionary solutions / innovations !
Just ask Sundar
Pichai , Sam Pitroda , Satya Nadela , Sachin Katti , Pranav Mistry , Sanjay Sarma , Nandan Nilekani etc , if they will help implement the following :
* Buyer buys something worth Rs 100 from a shopkeeper
* Buyer and the Seller , look into their own
mobile-cameras ( of smart phones
loaded with M-Rup ) for biometric Aadhar
identification / linked to Jan Dhan a/c
* Seller speaks in his mobile :
" Muze Sau
Rupiah dedo "
* Buyer speaks in his mobile :
" Inko Sau Rupiah
dedo "
* Message flashes in the mobile screen of Seller :
" Tumhare
account-me Sau Rupiah
Jamah ho gaya / GST bhi kaat ke Sarkar-ko
bhej diya "
* Message flashes in the mobile screen of Buyer :
" Tumhare account-se
, Sau Rupiah inko
Bhej Diya . Abhi balance me teen sau sath rupiah bacha
hai "
I request all concerned , not to insult our engineers /
scientists / geeks , by doubting if such SIMPLIFICATION ( based on day to day spoken language ) is possible
Doubting Thomas may want to look up ... PILOT
{ http://www.waverlylabs.com/ }
This is the only way rural India can bypass the Jurassic Age of
Plastic Cards to usher into a CASH-LESS society !
22 Sept 2018
www.hemenparekh.in /
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