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TMI BlogAmesty scheme-2021 for settlement of arrears – instructions issuedX X X X Extracts X X X X X X X X Extracts X X X X ..... ious year under the following legacy statutes stands modified with certain conditions. Kerala Surcharges Act Central Sales Tax Act, Kerala General Sales Tax Act. Kerala Agriculture Income Tax Act, Tax on Luxuries Act, Kerala Value Added Tax Act, Key highlights of the Amnesty Scheme, 2021 are: 100% waiver of interest and penalties. 40% waiver of the balance tax arrears, if the outstanding dues are paid in lump- sum. 30% waiver of the balance tax arrears, if the outstanding dues are paid in installments. Amnesty scheme can be opted for all pending tax arrears (Except for those arrears under the KGST Act, from 2005 onwards). The assessee can opt to settle the arrears relating to a particular assessme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e arrears for the purpose of settlement under this scheme shall be calculated as on the date of submission of option. The assessees who have opted for amnesty schemes earlier, but could not settle the arrears, can also opt under this scheme. Amounts, if any, paid during the earlier schemes, will be given credit under tax as per this scheme. Outstanding interest and penalty as on the date of option shall be waived. After giving credit of the payments made prior to this scheme (tax/interest/amount paid under amnesty) towards principal amount, the balance outstanding against the principal amount for which Amnesty 2021 is applicable will be reckoned. Any amount paid towards penalty or its interest shall not be given credit. In cases of arrea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gh online. In the case of appeals filed by the State which is pending for final orders as on the date of option, this scheme can be opted based on the demand in original assessment order. Once the outstanding dues are settled under this scheme, there shall be no refund or adjustment subsequently for the amount settled under this scheme. In the case of assessees having outstanding arrears, the year wise details of arrear demand and amount if any paid, can be viewed electronically by logging in to the official portal www.keralataxes.gov.in. The system will also display the amount to be payable under this amnesty scheme. In order to access the system, one time user ID and password shall be generated from the portal. If the assessee is wil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t of this scheme. The relief granted under the scheme shall be revoked by an order in writing by the assessing authority after giving such dealer an opportunity of being heard within fifteen days of the default. Revenue recovery steps should be continued against such defaulter immediately. Assessment of tax and imposition of penalty by a single order will not preclude the assessee from availing of the relief declared under this scheme. While approving the option electronically fixing the liability under this scheme care must be taken to see that all outstanding demands are included in the amnesty scheme and proper credit has been given to all remittance made by the assessees. The Joint Commissioners shall constantly follow up the arre ..... X X X X Extracts X X X X X X X X Extracts X X X X
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