Covid-19 Update

3,12, 281
मामले (हिमाचल)
3, 07, 956
मरीज ठीक हुए
मामले (भारत)
मामले (दुनिया)

Himachal Government approves HP Legacy Cases Resolution Scheme

Himachal Government approves HP Legacy Cases Resolution Scheme

- Advertisement -

Shimla: Jai Ram Government has approved the Himachal Pradesh (Legacy Cases Resolution) Scheme under the Department of Excise and Taxation in the Cabinet Meeting held yesterday. Disclosing this, Chief Minister Jai Ram Thakur said here today that the scheme would address settlement of legacy cases under General Sales Tax, VAT, CST and other taxation laws subsumed under GST. Chief Minister said that the Scheme would be applicable for both settlement of pending arrears as well as any arrear that might accrue on account of disposal of pending assessments under taxation laws subsumed under GST. The scheme is expected to expedite the disposal of the legacy issues resulting into generation of revenue stuck due to non-disposal of assessment cases or arrears under litigation, he added.

Jai Ram Thakur said that after implementation of GST large number of states such as Gujarat, Kerala, Karnataka, Maharashtra, Madhya Pradesh, Haryana and Rajasthan have introduced settlement schemes to settle legacy issues. He said that these States have brought the Settlement Schemes under certain existing legislations. The Central Government has also brought a scheme namely, Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 to settle legacy of Central Excise and Service Tax, he said. The Chief Minister said that the Central scheme and the schemes introduced by the States have provided certain immunities and incentives to the applicants. He said that Maharashtra has provided 50 percent waiver of tax amount, 90 percent waiver of penalty and 95 percent waiver of interest. Karnataka has granted waiver of 100 percent of arrears of penalty and interest. He said that the Central Government under the scheme has provided waiver of tax dues ranging from 40 percent to 70 percent alongwith complete waiver of penalty and interest and waiver from prosecution.

Jai Ram Thakur said that there was pendency of arrears of around Rs 3,500 crore and assessment cases numbering 3 lakh were pending for assessment. He said that it is estimated that the Scheme would release revenue of Rs. 620 to 670 crore assuming that all current defaulters apply under the scheme. He said that the Scheme will also help release considerable manpower engaged in legacy issues resulting into availability of more manpower for improving compliances under GST.

The Chief Minister said that the scheme has a provision of settlement fee. A declarant may settle the pending arrears or a pending assessment by way of payment of settlement fee. Jai Ram Thakur said that the declarant is required to pay settlement fee for settling a legacy issue at the rate of 10 percent of tax paid where returns or tax is late; 110 percent of the tax due where no return has been filed and where the Statutory form (C,F,H etc.) are involved and have not been produced, the fee would be 1 percent of the value of such form or 100 percent of the tax required to be paid against such forms whichever is higher. He said that the last date to file declaration under the Settlement Scheme would be 30th April, 2020.

हिमाचल की ताजा अपडेट Live देखनें के लिए Subscribe करें आपका अपना हिमाचल अभी अभी YouTube Channel…

- Advertisement -

Facebook Join us on Facebook Twitter Join us on Twitter Instagram Join us on Instagram Youtube Join us on Youtube

हिमाचल अभी अभी बुलेटिन

Download Himachal Abhi Abhi App Himachal Abhi Abhi IOS App Himachal Abhi Abhi Android App

विशेष \ लाइफ मंत्रा

Himachal Abhi Abhi E-Paper

सब्सक्राइब करें Himachal Abhi Abhi अलर्ट
Logo - Himachal Abhi Abhi

पाएं दिनभर की बड़ी ख़बरें अपने डेस्कटॉप पर

अभी नहीं ठीक है