Pre-GST amnesty scheme: deadline for applying ends on December 31
The deadline for applying for Amnesty Scheme 2024, meant to dispose of decades-old tax arrears under the pre-Goods and Services Tax (GST) tax regimes, ends on December 31, the State GST department has said. Launched on August 1 following an announcement in the State Budget, the tax arrears resolution scheme was envisaged to benefit the trade sector. Arrears under the pre-GST Kerala Value Added Tax Act, Kerala Agricultural Income Tax Act, Kerala General Sales Tax Act, Kerala Tax on Luxuries Act, and Kerala Surcharge on Taxes Act are dealt with under the scheme.
The scheme offers 100% waiver for tax arrears up to Rs.50,000. For larger amounts, the following rates are applicable in December. For settling arrears above Rs.50,000 and up to Rs. 10 lakh, defaulters must pay 36% of the tax amount. For arrears between Rs. 10 lakh and Rs.1 crore, there are two schemes—defaulters should pay 46% of the tax amount for arrears under litigation and 56% for others. For tax arrears above Rs.1 crore, 76% of the amount for arrears under litigation and 86% for the rest.
