The Delhi Government on Wednesday announced a comprehensive VAT Amnesty Scheme which will encourage registered as well as unregistered dealers to voluntarily disclose their outstanding tax dues for the period ending March 31, 2013.
Giving details of the Amnesty Scheme, Chief Minister Sheila Dikshit said all dealers would also discharge this tax liability without levy of any penalty and without fear of criminal prosecution. “A substantial relief has also been offered on interest payment,” she added.
The scheme will cover all outstanding tax dues even for the erstwhile sales tax regime. The dealers will need to self-declare and pay 50 per cent of admitted tax by January 31, 2014, and the balance by March 21, 2014. The works contractors and builders can also settle their tax dues by paying a turnover tax at 3 per cent (1 per cent in case the value of land is included in total cost).
According to the Delhi Government, the scheme goes a long way in offering amnesty to even dealers to whom notice for assessment or audit/special audit has been issued or on whom assessment orders have been served or who have filed objection/appeal at various forums/ courts. The scheme will not only encourage dealers to voluntarily declare their tax dues but also help liquidate a large number of pending objections and appeals.