Waiver of outstanding interest and penalty scheme of UP Commercial Tax Department
As per the Notification issued in this regard, the waiver scheme shall apply to pending demands /penalty arising out of all orders passed till 31.03.2019.
The Scheme applies to all orders passed under U.P. Trade Tax Act 1948, Central Sales Tax Act, 1956, U.P. Entertainment & Betting Tax Act 1979, U. P. Entry Tax 2007, U.P. VAT Act 2008 and U.P. Cable Television Network (Exhibition) Regulation 1997.
The Scheme shall remain in force till the end of three months from the date of Government Order.
The Government Order issued in this respect states that due to the waiver scheme, the traders shall be able to devote their attention to GST because they shall be given opportunity of interest waiver and exemption from any coercive action. The biggest attraction of the Scheme is that on payment of due tax they will get relief from interest and penalty.
It is estimated that the benefit of the said Scheme can be availed by 3,23,439 traders who owe 23457.96 crores outstanding tax. Also arrangements are made to give option of instalment payment (EMI) for the monthly payment of tax.
It has been clarified that the exemption from penalty shall be restricted to only those penalty levied due to non payment of outstanding tax and shall not apply to any other penalty.
Traders who pay the due/outstanding tax shall be issued a No Dues Certificate on the condition that if in future it is found that the trader has supressed its turnover/caused loss to the Revenue, then immunity shall be withdrawn.
All the application for the Interest Waiver Scheme shall be made only through the Departmental Portal only. For small traders, facility shall be provided at local office level.
Amount to be waived based on amount of due tax paid shall be as under:
Mere CBDT Instructions cannot absolve individuals of their obligation to explain the source and nature of their gold holdings, even…
Empanelment of General Observers for ICSI Examinations December 2026 ICSI has invited interested members to enroll as General Observers for…
ITAT answers some important and inter-related issues relating to deduction u/s 80IA In a recent judgment, ITAT has dealt with…
Carry forward of loss can not be denied for belated return, it is only the set off in subsequent year…
Where sales are duly recorded in books and VAT returns, to treat it bogus sales, AO must bringing cogent adverse…
Expenses to celebrate Diwali with staff creates a goodwill and, therefore amounts to expenses incurred for the purpose of business…