One-time settlement plan for traders in Haryana

Sources said the scheme was likely to be tabled at a meeting of the Haryana Cabinet meeting tomorrow. On the lines of other OTS schemes offered by various departments, the government is likely to waive interest and penalty, while the traders would be required to pay the full amount of tax.

There are thousands of small-time businessmen who owe the government various dues under the previous VAT regime and other Acts before April 1, 2018. The OTS was announced by CM Manohar Lal Khattar.

The sources said the scheme was likely to be offered from December until the end of the financial year. The entire process would be online.

The government is hoping to increase its revenue and reduce old arrears. The tax revenue would be used for development and welfare projects. With the Assembly elections due in October next year, the government is going all out to woo various sections of society by taking people-centric decisions. The sources said added that the OTS was also aimed at providing relief to the traders who were unable to clear their dues, given the weight of penalties attracted over time.

 

Source - https://www.tribuneindia.com/news/haryana/one-time-settlement-plan-for-traders-566288