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Dikshit announces VAT amnesty scheme to win traders

Last Updated: Wednesday, September 18, 2013 - 21:49

New Delhi: Wooing traders ahead of assembly polls, Delhi Chief Minister Sheila Dikshit on Wednesday announced a VAT amnesty scheme under which defaulters will be allowed to disclose the outstanding amount voluntarily while being exempted from paying penalty and interest on dues.

Dikshit, who also holds the finance portfolio, said the scheme is aimed at encouraging both registered and unregistered dealers to voluntarily disclose their outstanding tax dues for the period ending on 31st March 2013.

No penalty will be levied against defaulters and even criminal proceedings will not be initiated.
"The amnesty scheme will cover all outstanding tax dues. Defaulters of the erstwhile sales tax regime will also get relief," she said.

She said the dealers will need to self-declare and pay 50 per cent of "admitted tax" by January 31, 2014 and the balance by March 21, 2014.

Under the scheme, builders can also settle their tax dues by paying a lumpsum turnover tax at 3 per cent and one per cent in case the value of land is included in total cost of the project.

"The scheme will go a long way in offering amnesty to even dealers to whom notices for assessment or audit has been issued. Those against whom assessment orders have been served or who have filed objection and appeal at various forums and courts, will also be covered," Dikshit said.
She said the scheme will not only encourage dealers to voluntarily declare their tax dues but also help liquidate a large number of pending objections and appeals.
The government has also decided to ensure expeditious disposal of refunds. Department of Trade and Taxes of Delhi Government has offered to pay the refunds claim of up to Rs one lakh by October 31.


First Published: Wednesday, September 18, 2013 - 21:49
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