Tax back scheme for Digital India
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Have you ever noticed that what so ever amount you pay while buying any goods or using any services how much tax you are paying and still government is saying that they are not getting enough revenue from taxes?? how come it is possible that in a Trillion $ market we pay some where around 30% of taxes in direct & indirect form our government is not able to get enough tax revenue? It is just because what so ever Indirect taxes we are paying while purchasing any goods or services tax amount paid by us is not reaching in government taxation revenue & becoming black money for manufacturers & seller, Even GST will not be able to solve this problem unless there will be pure tracking system with current rules only common man will face more heat for this & government will not be able to increase their revenue targets
It has been more than 70 days of demonetization in India now, we all were expecting that we all will get huge tax benefits after this as lots of black money will flow back in to accounts and that money will be further used for development of country by government, since government will also be getting huge tax on this black money so it will further ease common man from tax load, but nothing happened like this, big businessman are still doing business in black and keeping tax amount paid to them on behalf of government in to their own pocket, which is further creating a huge Gap of tax paid by individuals in form of service tax, VAT & so many other forms v/s tax paid to government by these business mans.
I have solid action plan for same which is very simple to understand that if we make any payment thru app or by digital platform so 50% amount of tax paid (Srvice tax,VAT or anyother) by us on these transaction should be credited back in to our accounts on quarterly basis, This will impact in 2 ways
01. Maximum people will make digital payment by considering that it is a kind of saving for them For example: if we spend 20,000 in month for buying any thing from Grocery to electronic goods, we pay approximately Rs. 4000 as tax amount (it is bare minimum however it is suppose to be more than 6000 if all taxes are included for state and central government) & if a user get Rs.2000 monthly or Rs.6000 quarterly for example so it is a big amount for a common man & everyone will push retailer to accept digital payment as well It is some where 10% overall saving on your spending so no one will promote cash payment
02. Since all money is flowing in seller or company bank account so they will not be able to make any adjustment in their books too for paying taxes to government which will increase government taxation revenue and will come on actual value as well also buyer have option to claim his tax refund by uploading relevant transaction details so there will be a double check on it too
I have written to Finance minster & prime minister of India many times from different forums (Emails, & posting on Interact with PM) with detailed action plan but sadly no action they are not paying any attention to it.
If this scheme is implemented in India so it is going to be a big game changer there is no need of any kind of note ban or putting extra charges on cash transaction, common people will automatically trash out black money from India & government taxation revenue is going to increase as well drastically
I request you to sign this petition & be a part of real change from country or else nothing will change we as a common people will always be on surviving side and will keep paying taxes which is further converted in black money but some big companies or by sellers
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