This document proposes an IoT-based smart electricity meter and power theft detection system. The system uses a microcontroller connected to an electricity meter to automatically read consumption data. It sends this data daily to a database via the internet and to users via GSM. Users can access their consumption via an app or website. If consumption exceeds a limit, the power supply is automatically cut off. The system also detects power theft by comparing meter readings at the distribution post and user end - if there is a discrepancy, a theft message is sent to the utility and user. This automated system aims to improve billing accuracy, provide real-time usage data to users, and help reduce power theft.