Over 1,50,000 businesses, or nearly 50 per cent of those with outstanding dues, have availed of the Maharashtra Goods and Service Tax (GST) department’s sales tax amnesty scheme so far, according to the department.
Launched on April 1, the scheme represents the last chance to clear the arrears under pre-GST laws and will end on September 30.
According to a press note from the department, the response till September 22 showed the scheme has been attractive for the business class. Sources said it was an important avenue to earn more revenue for the finance department.
Under the scheme, businesses whose dues are less than Rs 10,000 have had their dues waived by default. The most attractive feature applies to arrears amounting to Rs 10,000-Rs 10 lakh, a category under which most cases fall. In this category, 80 per cent of the dues are waived for those businesses that pay 20 per cent of the total dues in lump sum. More businesses are availing of this opportunity, the department said.
Those with arrears above Rs 50 lakh have the instalment option as well.
Some applications submitted under this scheme have arrears pending since 1970. Some businesses have withdrawn their appeals in the sales tax tribunal and the Bombay High Court to take advantage of the scheme, the department said.
Source: The Indian Express
https://indianexpress.com/article/cities/mumbai/maharashtra-sales-tax-amnesty-scheme-gst-8168522/
For more News like this, Subscribe TAXO today
