Visakhapatnam

Avail one-time settlement, CGST official appeals to businessmen

In tune with the Central government’s ‘Sabka Viswas’ programme Central GST commissioner has appealed to all business houses and businessmen who have various legal and departmental disputes to approach the commissionerate for one-time settlement.

Addressing the media here on Wednesday, Commissioner of CGST, D.K. Srinivas, said that the objective of the programme is to offer one time measure for liquidation of past disputes with Central Excise and Service Tax and to provide opportunity of voluntary disclosure to non-complaint tax payers.

Explaining the benefits he said that there will be total waiver of interest and penalty and immunity from prosecution.

“For cases pending in adjudication or appeal, a relief of 70% will be given on duty demand, if the demand is less than ₹50 lakh and 70% if it is more, if they approach us under this scheme,” he said.

The same relief will be given for cases under investigation and audit, where duty involved has been quantified on or before June 30, 2019, said Mr. Srinivas.

In case of an amount in arrears, the relief offered is 60% of the confirmed duty amount if it is ₹50 lakh or less and 40% on other cases.

According to Mr. Srinivas, in A.P. there are such pending cases, which amount to close to ₹3,000 crore and all over India is around ₹3 lakh crore.

The offer will be effective from September 1 to December 31, 2019.

For details visit: https://cbic-gst.gov.in

The final decision will be communicated within 60 days of application and the taxpayer has to pay the amount within 30 days of the final communication.

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Printable version | Jun 4, 2020 10:12:16 AM | https://www.thehindu.com/news/cities/Visakhapatnam/avail-one-time-settlement-cgst-official-appeals-to-businessmen/article29395723.ece

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