One Time Settlement Scheme by Telangana state for unsettled dues

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One Time Settlement Scheme by Telangana state for unsettled dues

The Telangana government has issued an order for ‘one-time settlement scheme’ (OTS) which is expected to allow more time for Goods and Services Tax (GST) issues.

The scheme goes as follows:-

Applications will be accepted online from May 16 to 30, followed by scrutiny, confirmation of arrears and intimation from July 1 to 15 and submission of settlement letter by tax payer and payment of agreed amount will go on from July 16 to August 15.

The registered dealers should apply for the OTS through an online application and dealers no longer in business can apply offline in their respective jurisdictional circles of the commercial taxes department.

The one-time settlement scheme aims to recover over Rs 3,000 crore long-pending arrears pertaining to commercial taxes.

Earlier also few states such as Maharashtra, Karnataka, Kerala, Bihar and West Bengal had introduced OTS to recover disputed taxes, successfully and is now followed by Telangana issuing orders for OTS.

It's a progressive move as the OTS will help release manpower engaged in legacy issues and allow more time for GST related issues. In fact, it will also allow closure to protracted  litigations and at the same time effect early recoveries of tax dues.


SRIVATSAN.R.

NACIN, Chennai

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