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Pending VAT cases: Breather for over 8,000 Chandigarh traders as one-time settlement plan on cards
Chandigarh Beopar Mandal (CBM) president Charanjiv Singh said that around 8,000 to 10,000 traders in the city have pending VAT cases, some of which go back to six years
In a relief to around 8,000 traders in the city, the UT administration is in the final stages of bringing a one-time settlement (OTS) scheme for pending Value Added Tax (VAT) cases, on the pattern of Punjab and Himachal Pradesh.
As per sources, the excise and taxation department has sent a proposal for OTS to higher authorities, If approved, traders can expect waiving of the interest and tax dues under the scheme.
Chandigarh Beopar Mandal (CBM) president Charanjiv Singh said that around 8,000 to 10,000 traders in the city have pending VAT cases, some of which go back to six years.
The administration can expect to generate revenue by settling these cases.
Singh said they have been demanding the settlement of old cases on the lines of other Punjab and Himachal Pradesh. “We were being penalised for cases dating back to over six years even as other states were bringing in amnesty schemes for traders. The OTS will come as a major breather for them,” he said.
As per sources, industrialists will also benefit from the OTS scheme.
A time-limit will also be set to avail of this scheme.
Sources said UT officials had studied the OTS schemes of various states before settling for the Punjab model.
