Saini woos 2L traders with plan to settle dues
Ahead of the civic body elections, the Nayab Singh Saini government today announced a major financial bonanza for nearly 2 lakh defaulting traders by unveiling the Haryana One-time Settlement Scheme for Recovery of Outstanding Dues-2025.
The scheme, aimed at moving ahead in the goods and services tax (GST) regime with lesser baggage of arrears and litigations by expediting the recovery of outstanding dues, was approved by the Haryana Cabinet at a meeting presided over by Chief Minister Saini. The scheme is set to save the trading community nearly Rs 2,500 crore.
No penalty, interest on outstanding sum
- Taxpayers with up to Rs 10L dues to pay 40% of outstanding sum
- Those owing Rs 10L to Rs 2 cr to pay 50% of outstanding amount
- Special concession of Rs 1L for tax liabilities of up to Rs 10L
- No penalty/interest to be paid on outstanding amount
CM Saini claimed that the new scheme underlined BJP government’s commitment to empowering small traders and fostering a business-friendly environment in the state, in line with the promises made in the party’s “sankalp patra” (election manifesto).
A senior BJP functionary, however, asserted the scheme besides standing the saffron party in good stead in the civic body polls would also send right signals to the electorate in neighbouring Delhi about party’s “positive outlook” towards the trading community ahead of the February 5 Assembly elections.
Under the scheme, formulated for the settlement of outstanding tax liabilities under seven pre-GST Acts, no penalty or interest on the outstanding amount would be charged.
The scheme would be applicable to quantified outstanding dues under the seven Acts — the Haryana Value Added Tax Act, 2003; Central Sales Tax Act, 1956; Haryana Local Area Development Tax Act, 2000; Haryana Tax on Entry of Goods into Local Areas Act, 2008; Haryana Tax on Luxuries Act, 2007; Punjab Entertainment Duty Act, 1955; and the Haryana General Sales Tax Act, 1973.
The taxpayers with outstanding liabilities of up to Rs 10 lakh would be granted a concession of up to Rs 1 lakh. Besides, 60 per cent of the remaining principal tax amount would be waived.
Those with outstanding liabilities ranging from Rs 10 lakh to Rs 10 crore would receive a 50 per cent concession on their tax amount. The taxpayers with settlement amounts exceeding Rs 10 lakh could pay the principal amount in two instalments.
The scheme would be open for 120 days from the day of notification.