+

Diwali gift for TRADERS: one-time settlement scheme for dues before GST

In the Punjab Cabinet meeting, the ministerial cabinet placed its stamp on important decisions. Businesspeople received a Diwali gift with the implementation of the “One-Time Settlement Scheme (OTS)” for settling dues from before the implementation of the Goods and Services Tax (GST). This decision will benefit more than 60,000 businesses. The Cabinet also approved several […]

In the Punjab Cabinet meeting, the ministerial cabinet placed its stamp on important decisions. Businesspeople received a Diwali gift with the implementation of the “One-Time Settlement Scheme (OTS)” for settling dues from before the implementation of the Goods and Services Tax (GST). This decision will benefit more than 60,000 businesses.
The Cabinet also approved several other important decisions. The OTS scheme will be effective from November 15, 2023, to March 15, 2024, allowing taxpayers with dues, penalties, and interest up to Rs 1 crore as of March 31, 2023, to apply for settlement. The OTS scheme will provide a full waiver for cases up to Rs 1 lakh. For cases between one lakh and Rs 1 crore, 15,000 cases qualify for a complete waiver. Additionally, in approximately 19,361 cases, there will be a 100% waiver of penalties, 100% waiver of interest, and a 50% waiver of taxes.
Starting from November 27, the “Chief Minister’s Pilgrimage Scheme” will be initiated to provide free travel facilities for the residents of the state to visit various pilgrimage sites across the country. This includes prominent places such as Shri Hazoor Sahib (Nanded), Shri Patna Sahib (Bihar), Varanasi Temple, Ayodhya, and Vrindavan Dham (Uttar Pradesh), Shri Ajmer Sharif (Rajasthan), and more. The scheme will provide two modes of transportation: by train for long-distance religious sites and by bus for shorter distances.
Approval has also been given for an increase in ex-gratia grants for disabled soldiers. Physically challenged soldiers receiving a grant of 76% to 100% are now eligible for an ex-gratia grant of Rs 40 lakh, up from the previous Rs 20 lakh. Those with disabilities ranging from 51% to 75% will receive an ex-gratia grant of Rs 20 lakh, up from Rs 10 lakh, and soldiers with disabilities ranging from 25% to 50% will now receive Rs 10 lakh, up from Rs 5 lakh. This step has been taken to ensure the welfare of former soldiers and their families and to improve their quality of life in society. Amendments to the ‘East Punjab War Awards Act-1948’ have been approved, which will increase the financial assistance provided to war widows from Rs 10,000 per year to Rs 20,000 per year.
The Cabinet has also approved the creation of a regional cadre for Patwaris (revenue officials) and Kanungos to improve the functioning of the Department of Revenue and to streamline the process of land records preparation and verification, which will greatly benefit the people. A sub-committee is formed to address the issues of contract workers. The administrative reports of the Punjab Police and Vigilance Bureau for the years 2020 and 2022 have been approved, along with annual administrative reports for Social Security and Women and Child Development for the years 2019-20 and 2022-23.

Tags: