Haryana government launches tax dispute settlement scheme for small traders

Kurukshetra (Haryana) [India], March 23 (ANI): The Haryana government brought in a one-time tax settlement scheme, aimed at providing some tax relaxation and waiving off of penalties for small traders.

Over and above the tax exemption and penalty waive off, the state government under Nayab Singh Saini decided that it would exempt 60 per cent of outstanding amount (less than ₹10 lakh) that is due for payments.

"For disputed taxes under ₹10 lakh, taxpayers will pay 40 per cent of the outstanding amount," the chief minister said.

For disputes ₹10 lakh to ₹10 crore, taxpayers will pay 50 per cent of the outstanding amount.

For disputes above ₹10 crore, taxpayers will have to pay full outstanding amount. They will be able to take the benefits of the tax and penalty exemption.

This one-time settlement scheme will come into effect starting April 7, the chief minister announced, speaking to reporters after the launch event.

"We have brought a scheme for the small businessmen...One Time Settlement Scheme will be beneficial for small traders... this scheme will not only benefit big industrial units and taxpayers but will also benefit small-scale taxpayers. The state is developing due to the hard work and contribution of taxpayers. Such schemes help the country and the state to progress...," the chief minister briefed reporters.

"I thank all the taxpayers of Haryana, due to whom Haryana has become the leading state of the country in tax collection," he later wrote on X, in Hindi.

Addressing a long-standing request from Haryana's traders and business community to settle pending tax payments from before the implementation of GST, a One Time Settlement-2023 (OTS) Scheme was launched -- operational from January 1, 2024, to March 30, 2024. (ANI)