Commercial Taxes Department – Government of Karnataka introduced the Karasamadhana Scheme- 2017

Commercial Taxes Department – Government of Karnataka introduced the Karasamadhana Scheme- 2017

April 6, 2017 FISCAL 0

Commercial Taxes Department – Government of Karnataka has approved the Karasamadhana Scheme 2017. In view of the proposed introduction of Goods and Service Tax this scheme will be introduced aiming at reducing the arrears of tax and other amounts due. This scheme has been formulated for waiver of penalty and interest under the Karnataka Sales Tax Act,1957; the Central Sales Tax Act, 1956; the Karnataka Value Added Tax Act. 2003; the Karnataka Tax on Entry of Goods Act, 1979; the Karnataka Tax on professions, Trades, Callings and Employments Act, 1976; the Karnataka Tax on Luxuries Act, 1979; the Karnataka Income Tax Act, 1957 and the Karnataka Entertainments Tax Act, 1958.

 

The Scheme grants waiver of 90% of arrears of and interest payable by a dealer under the Karnataka Sales Tax Act. 1957 ( hereinafter referred to as KST Act) and the Central Sales Tax Act (hereinafter referred to as CSI’ Act) relating to the years upto 31/03/2005.

It  grants waiver of 90% of arrears of and interest payable by a dealer under the Karnataka Value Added Tax Act. 2003 (hereinafter referred to as KVAT Act) relating to the assessment/ reassessment orders under the provisions of KVAT Act the tax periods relating to all the years commencing from 01 /04/2005 upto 31/03/2016 and assessment/ reassessment orders under CST Act the tax periods relating to all the years commencing from 01.04.2005 upto 31/03/2016.

It grants waiver of 90% of arrears of penalty and interest payable by a dealer or person or proprietor, as the may be, relating to the assessment/ reassessment for all the years upto 31/03/2016 under following Acts namely. –

Karnataka Tax on Entry of Goods Act, 1979 (hereinafter referred to as KTEG Act);

Karnataka Tax on Trades, Callings and Employments Act. 1976 (hereinafter referred to as KTPTC & E Act);

iii.        Karnataka Tax on Luxuries Act, 1979 (hereinafter to as KTL Act);

iv.        Karnataka Agricultural Income Tax Act, 1957 (hereinafter referred to as KAIT Act); and v.         Karnataka Entertainments Tax Act, 1958 (hereinafter to as KET Act).

Grant of waiver of penalty and interest are subject to conditions and procedure as specified in the document attached.

The dealer opting for this Scheme shall submit separate Application relating to each assessment/ reassessment order relating to the tax for the years commencing from 01/04/2005 upto 31/03/2016 electronically through the website http://ctax_kar_nic.in on or before 31/05/2017 in the manner as specified in the website. Duly signed copy of the said Application downloaded shall submitted to the concerned Assessing Authority / Prescribed Authority / Recovery Officer as prescribed on or before 31/05/2017.

Source : Commercial Taxes Department – Government of Karnataka.

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