Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Act, 2022, was introduced on 30th of March, 2022 by issuing trade circular dated 20th April, 2022. The Act, also commonly known as Maharashtra Amnesty Scheme, 2022.
The main objective for introduction of the Maharashtra Amnesty Scheme, 2022 is as follows :
As per Section 2(k), the Relevant Acts means the following Acts :
Maharashtra Amnesty Scheme, 2022 is applicable for Settlement of Arrears of Tax, Interest, Penalty or Late fee, for periods upto 30 June 2017. Whereas, the duration for submission of application under the Scheme is from 01st April 2022 to 30Th September 2022.
1. Section 2(d) – Arrears :
“Arrears means outstanding amount of tax, interest, penalty or late fees, as the case may be,-
And such arrears of tax, interest, penalty or late fee pertains to specified period and it also includes the interest payable on the admitted tax under the Relevant Act for the specified period.”
2. Section 2(g) – “Disputed Tax means other than undisputed tax”
3. Section 2(q) – “Undisputed Tax means
Matters pertaining to period on or before 31 March 2005
Matters pertaining to period 1 April 2005 to 30 June 2017
In case, where the amount of arrears as per the Statutory order available is less than Rs. 10 Lakhs, then the Dealer or the Applicant can opt for the lumpsum payment @ 20% instead of paying requisite amount as mentioned in the above table.
In addition to this, any arreras as per the Statutory order available as on 01-04-2022 is less than Rs. 10,000/- for the specified period per financial year it shall be written off, including post assessment interest on it. Such write off is not available for orders passed after 01-04-2022.
Avail this great opportunity to settle the disputes of tax prior to GST at earliest. Contact us on +91 76201 44726 or connect us through mail email@example.com to opt for this scheme or more information about this scheme.