sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« VAT (Value Added Tax) »
 Haryana government uploads photos of VAT defaulters
 Filing of online return for 4th quarter of 2017-18 extension of period thereof.
 No Cenvat credit admissible on outward transportation services from factory to buyer’s premises
  Filing of reconciliation return in form 9 for the year 2016-17
 Govt may send notice to 162 companies; ask for VAT returns
 Cenvat Credit Is Not Income Liable To Be Taxed
 Cos wanting to claim VAT refund on employees' foreign stay can get professional help
 Regarding disposal of pending form DVAT 04 & 07 Form Applications
 Disposal of pending Form DVAT 04 & Form DVAT 07 applications: regarding
 Cenvat Credit Rules, 2017 III Part
 VAT phased out in TS

Government rolls out settlement scheme to clear VAT, CST dues
June, 02nd 2017

Finally, ahead of rolling out of all new indirect tax regime Goods and Service Tax (GST) in the country, the state government declared settlement scheme for clearing pending dues of VAT and central sales tax. The scheme will be remained open till July 31, 2017. The scheme, aimed at helping taxpayers to clear long pending dues, was introduced through a notification issued on May 29. Under the scheme, a relief is being given to the taxpayer ensuring waiver of penalty by paying onetime tax.

Tax payers willing to settle issues will have to apply in a prescribed format within 60 days of introducing the scheme, by July 31, 2017. Later, on public interest it could be extended for another 30 days.

In the notification further clarified that tax and penalty imposed on VAT and CST in the case of raids and vehicles inspection, cannot get exemption under the scheme. Total 40 per cent of the due amount or 100 per cent tax amount included in total due amount, whichever will be higher, would be acceptable as settlement amount.

The cases worth less than Rs 5 lakh can be applied to assistant commercial tax officer while cases worth less than Rs 15 lakh can be produced before commercial tax officer and Rs 15 lakh or above can be produced before assistant commissioner. Settlement under the scheme has to be made through online payments and for every orders, a businessman has to file separate applications with a summary.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions