One more chance to Defaulters Amnesty Scheme-2015 under Rajasthan VAT Act, 2003

One more chance to Defaulters

Amnesty Scheme-2015 under Rajasthan VAT Act, 2003

Introduction:

The State Government has notifies the Amnesty Scheme, 2015 for the waiver of interest and penalty in public interest with the date of notification i.e. February 9, 2015 till 31st March 2015. This scheme has been notified under Section 51A of the Rajasthan Value Added Tax Act, 2003.

Objective of Scheme:

Objective of said scheme is of encouraging both registered and unregistered dealers to voluntarily disclose their outstanding tax dues. The scheme has been summarized as under:

Applicability of the Scheme:

This scheme will be applicable to the dealer against whom the amount of total outstanding demand under the given act is up to Rupees 5 Crore:

·         The Rajasthan Sales Tax Act, 1954

·         The Rajasthan Sales Tax Act, 1994

·         The Rajasthan Value Added Tax Act, 2003

·         The Central Sales Tax Act, 1956

And further, it is also applicable where the demand has been created on or before 31^st March 2011 or the demand is under dispute before 31^st December, 2013 pending before any Court, Tax Board or Appellate Authority.

Subject to above conditions, this scheme is also applicable where:

·         The dealer/person has been permitted to pay the demand in installments become due at the timing of filing of the application under scheme, have been deposited by such dealer, or,

·         The case of prosecution has been filed by the department under 67(1) (d) of the Rajasthan Value Added Tax Act, 2003 or any other provision of same Act.

Benefits by the Scheme:

Procedure for availing the benefit of the Scheme:

·         Application in Form AS-I to assessing authority by applicant, along with details of deposition of tax/penalty or interest amount, and proof of case withdrawal, if any, up to 31/03/2015.

·         Assessing Authority verify the facts under application, shall complete the form AS-II.

·         Assessing Authority shall also reduce the demand of penalty/interest.

·         Where there is a case of prosecution under section 67(1) (d) of Rajasthan Value Added Tax, 2003 or other provision of same act, Assessing Authority shall proceed to withdraw the case from the court.

·         Assessing Authority shall forward the copy of form AS-II to concerned Deputy Commissioner (Administration) and Commissioner, where amount of waiver is more than 5 Lacs.

Conclusion:

The State Government has taken a step in public interest for the tax payers. Through the scheme, the person will be able to have immunity from interest, penalties and other proceedings on compliance with all the requirements.

Disclaimer:

The information contained in this write up is to provide a general guidance to the intended user. The information should not be used as a substitute for specific consultations. Authors recommend that professional advice is sought before taking any action on specific issues.

This article has been shared by CA Harsha Ramnani. she can be reached at harsha.ramnani01@gmail.com

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