Haryana Chief Minister Manohar Lal has officially launched the One Time Settlement-2023 (OTS) Scheme through the Excise and Taxation Department to resolve pending tax payments predating the GST implementation.
This scheme, effective from January 1, 2024, to March 30, 2024, provides businesses with the opportunity to settle pre-GST tax liabilities.
From January 1 to March 30, 2024, businesses can take advantage of the OTS-2023 scheme to settle pre-GST tax obligations. Taxes are divided into four categories, with exemptions from interest and penalties for cases related to seven tax acts effective before GST. Additionally, Chief Minister Sh. Manohar Lal has announced the establishment of a GST Training Institute in collaboration with HIPA, Gurugram.
The Chief Minister, during the inauguration of OTS-2023 in Gurugram, extended New Year wishes to the state. Deputy Chief Minister Shri Dushyant Chautala, overseeing the Excise and Taxation Department, also addressed the program.
The OTS scheme offers benefits in four categories:
1. Undisputed Fee Category: Taxpayers pay 100% of the amount with no penalties or interest for cases without disputes.
2. Disputed Taxes under Rs 50 lakh: Taxpayers pay 30% of the outstanding amount.
3. Undisputed Taxes Assessed by the Department: Taxpayers pay 40% (below Rs 50 lakh) or 60% (above Rs 50 lakh) with relief from penalties and interest.
4. Outstanding Amounts Due to Tax Rate Differences: Taxpayers pay only 30% of the total.
The OTS scheme also provides flexible installment options. Taxpayers with outstanding amounts below Rs 10 lakh must pay the entire sum by March 30th. For Rs 10 lakh to Rs 25 lakh, the amount can be paid in two installments of 52% each. Amounts exceeding Rs 25 lakh can be paid in three installments: 40% in the first 90 days, 30% in the next 90 days, and 30% in the final 90 days.
The One Time Settlement Scheme addresses outstanding tax issues from the Excise and Taxation Department until June 30, 2017, resolving concerns related to seven VAT-related acts. The Chief Minister emphasized that the program aims at public welfare and societal service, reflecting the commitment of the government.
Furthermore, the Chief Minister announced the expansion of the Urban Ownership Scheme, granting ownership rights to shopkeepers occupying local body land. This expansion now includes shopkeepers paying rent to the local body for their shops on land managed by various departments.
Read Official Press Release Here: CMO Haryana | 31 December 2023 (haryanacmoffice.gov.in)
Deputy Chief Minister Sh. Dushyant Singh Chautala highlighted the state’s commitment to traders’ welfare, citing the successful implementation of various schemes. The state’s tax infrastructure is lauded, with expectations of achieving Rs 66 thousand crore in revenue through the OTS-2023 scheme. The government plans to establish GST Tribunal branches in Gurugram and Hisar, responding to the demands of traders and industry organizations.
In conclusion, the launch of the OTS-2023 scheme represents a significant step towards resolving tax issues, providing relief to businesses, and contributing to the overall welfare of the state of Haryana.
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