What is the objective of the 'Mera Bill Mera Adhikar' scheme launched by the Indian Government on 1 September 2023?

Key Points

• The 'Mera Bill Mera Adhikar' scheme aims to promote the habit of customers asking for invoices or bills for all their purchases.
• This initiative is designed to ensure that all transactions are properly recorded, thereby reducing the chances of tax evasion.
• The scheme encourages transparency in financial transactions, which can help in increasing government revenue in the long run.
• By fostering a culture where customers regularly ask for bills, the government can better monitor and regulate the flow of goods and services within the economy.

Additional Information

• Tax Evasion
  • Tax evasion refers to the illegal practice of not paying taxes by not reporting all legal income, or by taking unallowed deductions.
  • It is a criminal offense and can result in severe penalties and interest.
  • Efforts to combat tax evasion include improved monitoring and increased enforcement of tax laws.
• Digital Transactions
  • Digital transactions refer to the electronic exchange of money between two parties.
  • They are often facilitated by the use of credit/debit cards, online banking, or mobile payment apps.
  • Promoting digital transactions helps in creating a more transparent and efficient financial system.
• Government Revenue
  • Government revenue is the money received by a government from taxes and non-tax sources to enable it to undertake government expenditures.
  • Revenue from taxes is a major source of income for the government to fund public services and infrastructure.