An amnesty scheme has been started by the Maharashtra government for interest and penalty waivers for the pending liabilities under GST between FY 2017 and 2020, 2025, Deputy Chief Minister Ajit Pawar announced in the state legislature. March 31 is the deadline to claim the scheme and settle the dues without any other charges. He notifies businesses and taxpayers to take benefit of the scheme.
Under Goods and Services Tax (GST) the total disputed amount for the state is nearly Rs 54,000 crore. Nearly 1.14 lakh applications from taxpayers are anticipated by states that are engaged in such disputes. Rs 27,000 crore is related to the core tax, while another Rs 27,000 crore is in penalties and interest out of Rs 54,000 crore.
On the grounds of past trends, nearly 20% of the disputed amount is anticipated to be collected under the scheme which shall translate to Rs 5,500-6,000 crore. From this half of the amount nearly Rs 2700- 3000 crore will be deposited into the treasury of the state and the remainder will proceed to the Central government.
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Under the scheme it is anticipated to furnish the relief to the businesses, proposing a required financial respite. Ajit Pawar outlines that the government is ensuring awareness campaigns to notify the taxpayers, legal professionals, chartered accountants, and the general public towards the advantages of this scheme.
