Selling without receipt and black money generation
When we visit markets even now in post demonetisation era, there is zero change in trader behaviour. Most of them dont want to issue a receipt by default. One has to ask for it. No receipt equals tax evasion and that is continuing as is.
Does dept of consumer affairs or local tax dept or ministry of finance have a way/law to ensure nothing is sold without receipt.
What if it was called unfair trade practice. Anyone not issuing a receipt for accepting more than 100 rupees was subjected to a penalty of 20000 rupees under law. And a hotline or a circle was created where people could report such matters for lead to officials to go check.
Please give comments friends. Am i the only one experiencing this? more
Does dept of consumer affairs or local tax dept or ministry of finance have a way/law to ensure nothing is sold without receipt.
What if it was called unfair trade practice. Anyone not issuing a receipt for accepting more than 100 rupees was subjected to a penalty of 20000 rupees under law. And a hotline or a circle was created where people could report such matters for lead to officials to go check.
Please give comments friends. Am i the only one experiencing this? more
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Oct 31
Almost every vendor continues this practice of selling goods without receipt. How will it work? i am paying by credit card and that creates the paper trail, how do these vendors expect to escape without billing the transaction?? Whats the trick, I would like to know. I have always had to insist on bills and vouchers and invoices, otherwise they don't bother. There are some good vendors, who make sure the billing is done properly. Kudos to them. more
May 30
Vinita your suggestions are practically implementable. Appreciate your input. Government needs to look into it seriously. Anyone accepting cash for sale above Ksh 500.00 should be fined. Bank charges on card transactions should be removed. Paytm trxs should be made cheaper/subsidized. RBI and Ministry of Finance should make cashless transactions free with cash back incentives and not charge them to tell people to stay away. more
May 27
1. Cash transactions in the bank are charged after a limit. that is for deposit too.so cash used in transactions. 2. card transactions are charged commission from the seller and they charge from the buyer. 3. cash payment gets discount on MRP. 4. If bill is taken there is no assurance that is a genuine bill and tax deposited. 5. safety aspect to use digital transactions. 6. literacy rate 7. If small purchases are allowed in cash. that small sellers buy in big quantity with cash. Only rationalised tax system , effective feedback system in government offices and motivated traders and public can change the system. We make good rules but not able to implement in big country. Voluntary groups and NGOs can /may bring some awareness provided, the tax structure is reasonable. Hope GST may bring some rationale in taxes. what are the elements (components) make the petroleum price at the retail sale point? more
May 25
