Haryana Govt announces One Time Settlement Scheme, offers waiver of interest

Haryana Government has presented a golden opportunity to traders by offering a waiver of interest and penalty on outstanding taxes before June 30, 2017, through the One Time Settlement Scheme.

Hanish Gupta, District Deputy Excise and Taxation Commissioner Sales Tax, stated that traders with outstanding taxes predating 2017 can settle with the department by paying a lump sum amount. Under the One Time Settlement Scheme, the Haryana Government will completely waive off interest and penalties on outstanding taxes, providing a substantial concession on the basic tax.

This initiative is a significant chance for district traders to fulfill their tax obligations. If the outstanding amount is less than Rs 10 lakh, payment must be made by March 30. For amounts between Rs 10 lakh and Rs 25 lakh, two installments are allowed. If the tax amount exceeds Rs 25 lakh, payment can be made in three installments through settlement with the department. The Excise and Taxation Department require 40 percent of the amount within the first 90 days, 30 percent in the subsequent 90 days, and the remaining 30 percent in the last 90 days.

Gupta highlighted ongoing campaigns in the district to raise awareness among traders. Information about the scheme and its benefits can be obtained by visiting the district sales tax office on any working day, where Excise and Taxation Officer Mr. Arun Kumar is available at the Help Desk.

Before the introduction of GST, taxes were categorized into four groups, granting exemption from interest and penalties for cases related to seven effective tax acts. In undisputed cases, taxpayers must pay 100 percent of the due amount without penalty and interest. For disputed taxes less than Rs 50 lakh, taxpayers need to pay 30 percent of the outstanding amount. Gupta mentioned that, for department-prescribed taxes, taxpayers must pay 60 percent for amounts less than Rs 50 lakh, along with relief from penalty and interest. Due to the tax rate difference, taxpayers are only required to pay 30 percent of the total outstanding amount.