Industry seeks OTS scheme for first quarter of 2017-18
The Khel Udyog Sangh has raised the issue of getting VAT recovery notices. Group members said the VAT assessment of 2017-18 had been done but the one-time settlement policy was not yet implemented.
City industrialists have repeatedly flagged the non-implementation of the one-time settlement (OTS) policy and raids by the GST Department. According to members of the group, the OTS was implemented a few years ago, but not for the first quarter of 2017-18 and they had been getting recovery notice for the same.
Ravindra Dhir, one of the members of the sangh, said on the one hand, small industrialists are upset as the department had been given the power of conducting raids, and on top of it, due to the non-implementation of the one-time settlement scheme for assessments done after 2017-2018, VAT recovery notices have started coming.
“In the current circumstances, small businesses are suffering further and the most surprising thing is that this scheme is for the first quarter of 2017-18 because the GST was implemented after that and the GST amnesty scheme was implemented several months ago under which traders had settled their disputes from 2017 to 2020 and were getting it done. In such circumstances, the absence of a one-time settlement scheme for the first quarter of 2017-18 is surprising. The state government should announce this scheme as soon as possible so that small traders can get their settlement done like in the past,” he stated.
