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TMI BlogIntroduction of Reward Scheme to encourage market / trade association for payment of due taxX X X X Extracts X X X X X X X X Extracts X X X X ..... ORDER Value Added Tax is one of the major sources of revenue of the Government of Delhi which is an indirect tax collected by traders from customers on sale of goods and then deposited with the Government. In its effort to collect the due tax, the Government intends to involve market associations. With this objective in view, the Government proposes to introduce a reward scheme for the as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation should be elected through the process of election in accordance with the constitution of the association. Not more than 5% of the registered members should have defaulted in return filing. KCS, liquor, tobacco and petroleum dealers are excluded from the ambit of this scheme. Enrolment: The association has to register itself online on the website of the department and upload the lis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ut deposited during the current year would not be taken into account for the reward. REWARD AMOUNT 1. Reward money shall be 10% of the revenue generated over and above the target set for the year. 2. Rs. Five lacs separately would be made available as reward to top ten associations each all over Delhi. IMPLEMENTATION : 1. A committee comprising members from Finance Departmen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ance of parks (g) Setting up of free wifi in the market (h) Putting up a gate with name of Market Association (i) Running battery buses in the market area (j) Provision of benches (k) Provision of dustbins in the market The portion of VAT which is to be earmarked for the purpose would have a separate Head of Account / Sub-Head of Account and a budget allocation would also be made ..... X X X X Extracts X X X X X X X X Extracts X X X X
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