Amnesty scheme to end this month

The last date for submitting the option for the Amnesty Scheme, 2020, to settle outstanding tax dues before the introduction of the Goods and Service Tax (GST), will end on November 30.

The scheme will be applicable for all tax arrears, including cases in appeals (except arrears under KGST from 2005 onwards).

It would apply to traders who have outstanding dues under the Kerala Value Added Tax Act, Central Sales Tax Act, Tax on Luxuries Act, Kerala Surcharges Act, Kerala Agriculture Income Tax Act and Kerala General Sales Tax Act, an official release said.

The highlights of the scheme include 100% waiver of interest and penalties, 60% waiver of the balance tax arrears if outstanding dues paid in a lump sum and 50% waiver of the balance tax arrear if outstanding dues are paid in instalments.

The taxpayer who has failed to settle arrears under the previous scheme can also opt for this scheme. Any amount paid under the earlier scheme shall be given due credit.

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Printable version | Jan 15, 2021 9:02:45 PM |

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