Skip to main content

Bengal Govt Launches GST Amnesty Scheme to Recover Outstanding Tax Dues

GST Amnesty Scheme Announced for Taxpayers in Bengal

The Bengal government, led by CM Mamata Banerjee, has launched a new initiative called the GST Amnesty Scheme. This program is designed to help collect unpaid Goods and Services Tax (GST) from 2017 to 2020. It comes in response to many taxpayers' challenges when the GST system was first introduced.

The scheme, introduced by adding Section 128A to the CGST Act, offers a waiver of interest and penalties on specific tax demands raised under Section 73 for the financial years 2017-18, 2018-19, and 2019-20. 

To benefit from this scheme, taxpayers must pay the full tax amount by March 31, 2025, and submit their application online through the designated portal by June 30, 2025. 

The Directorate of Commercial Taxes is reaching out to around 20,000 taxpayers within the state to address about 34,000 requests for tax payments. They want to help these individuals settle their outstanding tax dues.

The Directorate has started outreach programs with various groups, such as trade associations and tax experts, to assist and motivate taxpayers to take advantage of a new program. This program offers relief by waiving interest and penalties for taxpayers involved in certain legal matters. 

According to a finance department official, this is the first time such a measure has been introduced since the GST Act began.

In June 2024, the GST Council held its 53rd meeting and suggested starting an amnesty program. This program would be available for taxpayers who have pending demands with an appellate authority or in court. 

However, to take advantage of this program, taxpayers must first withdraw any appeals or petitions they have filed. It's important to note that this amnesty will not apply to demands related to wrongly issued refunds.

A representative stated that this program is designed to help taxpayers by offering financial relief. The goal is to encourage people who have not been meeting their tax responsibilities to comply with the rules. 

Read Also: Must Know About GSTR-9 Form Amnesty Scheme for Non-filers

Additionally, the initiative aims to make it easier for taxpayers to update their tax information, which will help both the tax authorities and the taxpayers by reducing administrative work and making everything run more smoothly.

Comments

Popular posts from this blog

GST: Assessees Must E-file Their Tax Returns by 30th Nov 2024 to Claim Pending ITC

If you are a GST-registered assessee you need to consider the due date to avail of any due Input tax credit or revised errors/omissions for the FY 2023-24 is November 30, 2024, via submitting the appropriate GST forms. Missing the due date can produce an outcome of a financial loss as the unclaimed ITC could not be used to offset your output tax obligation. What is the Method to Claim the Due ITC or Revised GST Errors for the FY 2023-24 It was stressed by the tax experts that the GST law specifies the procedure to claim the due ITC via GSTR-3B and amend errors in GSTR-1. Filing GSTR-1: Errors induced in GSTR-1 can be rectified by making amendments in the following GSTR-1 filings. Filing GSTR-3B: Via the GSTR-3B return the obligated ITC can merely be claimed. November 11, 2024, was the due date to submit the GSTR-1, and November 20, 2024, is for GSTR-3B without any penalty. Both the outcomes can be provided till November 30, 2024, as per the late fees. R...

How ITR Software Assists Individuals in Filing Tax Returns

Every assessee's process of income tax return (ITR) filing is significant, as it contributes to Indian's economy. The Income Tax Department has made efforts to facilitate this approach in recent years, but numerous people still see themselves steering a difficult financial system, multiple tax deductions, miscellaneous exemptions, and changing tax laws. This complexity can turn what must be an easy task into a significant challenge. In this context, income tax software evolves into an important partner, presenting a useful variety of accuracy, efficiency, and reassurance. The software enables return filing that permits taxpayers to handle their financial responsibilities when complying with the law. 1. Accurate Tax Calculations An incorrect income tax calculation of taxes could result in messages from the Income Tax Department or missed refunds. The tax software helps in finding taxable income and tax deductions that you may be allowed, like insurance or home loans. The co...

Why Small Firms Should Consider Gen Payroll Software?

Businesses in this competitive era would be required to manage the payroll. Payroll software has multiple operations such as paying employees, following tax laws, managing employee benefits, filing important documents, and keeping accurate records. Businesses that manage tasks manually or with spreadsheets can result in inappropriate compliance and issues, wasting time in doing operations. Gen Payroll software arrives to manage payroll with accuracy and resolve the issues that come therein. The merits and demerits of Gen Payroll software are mentioned below. Gen Payroll Software Gen Payroll is a payroll management software made by SAG Infotech . It eases and automates the process of payroll. The software’s features are tracking employee attendance, calculating salaries, ensuring compliance with laws like PF (Provident Fund), ESI (Employee State Insurance), and TDS (Tax Deducted at Source), as well as generating payslips. Businesses, whether small or large, can use this software. ...