The chief minister of Haryana has announced a one-time settlement plan for pre-GST tax obligations
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| The chief minister of Haryana has announced a one-time settlement plan for pre-GST tax obligations |
Speaking before the assembly, Chautala said that the new programme has been introduced by the Haryana government for the benefit of business owners and merchants.
For this reason, a new measure was also approved in the most recent Assembly session, allowing merchants to get an exemption from unresolved tax issues till June 30, 2017.
In response to the merchant and business community in Haryana's persistent desire to clear pre-GST tax bills, Chief Minister Manohar Lal Khattar introduced the One Time Settlement-2023 (OTS) Scheme on Sunday.
This program will run from January 1, 2024, until March 30, 2024. Businesses may pay pre-GST tax obligations via OTS from January 1, 2024, to March 30, 2024, 2023 plan, according to an official announcement. There are four categories for the taxes, and in situations pertaining to the seven tax statutes that were in force before to the GST, there are exemptions from interest and penalties. In addition, Chief Minister Manohar Lal declared the GST Training Institute's inauguration in Gurugram in association with HIPAA.
Sunday's OTS-2023 launch in Gurugram included the Chief Minister's New Year's greetings to the state. The session was also addressed by the Deputy Chief Minister, Dushyant Chautala, who oversees the Excise and Taxation Department. The tax amount is split into four categories under the OTS method, beginning with the uncontested fee category for undisputed cases. The whole sum in this category must be paid by taxpayers, with no interest or penalties. Thirty percent of the unpaid balance is what taxpayers must pay for contested taxes under Rs 50 lakh.
Undisputed taxes imposed by the government in cases where no appeal was lodged fall into the third category. In the event that the sum exceeds Rs 50 lakh, the taxpayers would be required to pay 60% of the total. Additionally, this category offers exemption from penalties and interest. The outstanding money resulting from the different tax rates falls under the fourth category. In this case, the government has loosened the requirements, requiring taxpayers to cover only 30% of the whole sum. The OTS plan provides flexible payment alternatives together with tax reduction.
Before March 30, taxpayers owing less than Rs 10 lakh must pay the whole amount due in one single payment. It is possible to pay amounts between Rs 10 lakh and Rs 25 lakh in two payments of 52% each. Three payments may be made if the amount owed surpasses Rs 25 lakh: 40% in the first ninety days, 30% in the next ninety days, and 30% in the last ninety days. As of June 30, 2017, the Excise and Taxation Department's unresolved tax concerns have been resolved under this OTS system.
The Haryana Value Added Tax Act, 2003, the Central Sales Tax Act, 1956, the Haryana Local Area Investment Tax Act, 2000, and the Haryana Tax on Entry of Goods into the Local Area Tax are among the seven VAT-related Acts that are expressly addressed in this document. Act of 2008, Punjab Entertainment Fee Act of 2007, Haryana Luxury Tax Act of 2007, and Haryana General Sales Tax Act of 1973. Speaking before the assembly, Chautala said that the new programme has been introduced by the Haryana government for the benefit of merchants. Manufacturers For this reason, a new measure was also approved in the most recent Assembly session, allowing merchants to get an exemption from unresolved tax issues till June 30, 2017.
"So far, the state has collected Rs 46,000 crore in taxes. If businesspeople, chartered accountants, and tax attorneys work together after the launch of the new OTS plan, it is anticipated that the state's tax revenue would exceed Rs 66,000 crore by March 31.This exceeds the Chief Minister's departmental goal of Rs 58,000 crore, according to Chautala.
