Haryana government ventures one-time settlement scheme to settle pre-GST tax dues
The Haryana government has recently launched the One Time Settlement (OTS)-2023 Scheme through the Excise and Taxation Department. This initiative aims to address the longstanding appeal of traders and businesses in Haryana to resolve pending tax payments from the pre-GST era. The scheme, effective from January 1, 2024, to March 30, 2024, offers businesses an opportunity to clear their pre-GST tax dues. The OTS scheme categorizes the tax amount into four segments, starting with the admitted fee category. Taxpayers are required to pay 100% of the amount in this category, without incurring any penalties or interest, as highlighted in the government advertisement.
In case of disputed taxes under Rs 50 lakh, taxpayers will pay 30 per cent of the outstanding amount and if the disputed tax amount is above Rs 50 lakh, they will pay 50 per cent. In the case of undisputed category taxes, taxpayers will pay 40 per cent if the amount is below Rs 50 lakh and 60 per cent if it is above Rs 50 lakh. In this category also there will be relief from penalties and interest. The scheme also includes outstanding amounts due to differences in tax rates. Here, the government has discounted the amount, requiring taxpayers to pay only 30 per cent of the total.
The OTS scheme also provides easy instalment options. Taxpayers with outstanding amounts below Rs 10 lakh must pay the entire sum in one lump sum before March 30. If the outstanding amount is between Rs 10 lakh and Rs 25 lakh, the amount can be paid in two instalments.If the outstanding is more than Rs 25 lakh, the payment can be spread across three instalments: 40 per cent in the first 90 days, 30 per cent in the next 90 days, and 30 per cent in the final 90 days. The government has clarified that unresolved tax matters are associated with the Excise and Taxation Department up to June 30, 2017. The resolution is specifically targeted at addressing issues related to seven specified acts.
