By One Time Settlement
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Getty ImagesUnder the settlement scheme, taxpayers are being provided substantial relief, with complete waiver of outstanding interest and penalty.
More than 97,000 taxpayers in Haryana have availed benefits of the One Time Settlement scheme, launched recently by the state government to help clear quantified outstanding tax dues of people. This scheme will expire on September 27. After the scheme was launched nearly six months ago, till date, about 97,039 taxpayers have taken benefit and have settled their tax arrears worth Rs 712.88 crore. The scheme is applicable on the quantified outstanding dues up to the period of June 30, 2017, under seven relevant Acts, an official statement said. The Acts are: The Haryana Value Added Tax Act, 2003 (6 of 2003); The Central Sales Tax Act, 1956 (Central Act 74 of 1956); The Haryana Tax on Luxuries Act, 2007 (23 of 2007); The Haryana Entertainment Duty Act, 1955 (Punjab Act 16 of 1955); The Haryana General Sales Tax Act, 1973 (20 of 1973); The Haryana Local Area Development Tax Act, 2000 (13 of 2000), and The Haryana Tax on Entry of Goods into Local Areas Act, 2008 (8 of 2008).Live Events The statement said that under this scheme, taxpayers are being provided substantial relief, with complete waiver of outstanding interest and penalty. “For dues up to Rs 10 lakh: a standard waiver of Rs 1 lakh plus 60 per cent waiver of tax dues (after deducting standard waiver) on the remaining amount… For dues above Rs 10 lakh to Rs 10 crore: it is 50 per cent waiver of tax dues (after deducting standard waiver). Similarly, for dues above Rs 10 crore: only the principal tax is payable, with 100 per cent waiver of interest and penalty,” it said. The taxpayer has an option to pay the settlement amount in two equal instalments and no interest is chargeable on these installments.Add as a Reliable and Trusted News Source Add Now!
The Haryana government has appealed to all taxpayers to make the most of this opportunity and settle their outstanding dues under the “One Time Settlement Scheme, 2025” before the closing date.(You can now subscribe to our Economic Times WhatsApp channel)
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