VAT regime : Rs115-cr tax collected under resolution scheme

Indore: Resolution of Old Dues Scheme, brought to settle old cases of VAT regime pending up to March 31, 2016, is getting good responses from taxpayers. In the first phase (60 days) of 120 days time period of the scheme, the Commercial Tax Department (CTD) received 16,500 applications and collected tax worth Rs 115 cr. Through an ordinance, the resolution scheme of old dues of Madhya Pradesh Taxation Acts 2020 is being implemented by the Commercial Tax Department from September 26, this year.

The objective of the scheme is to resolve old cases of VAT regime up to the period of 31 March 2016. The scheme is for a period (120 days) from 26 September 2020 to 23 January 2021. For proper implementation of the scheme, the department is also urging taxpayers to take maximum benefit of the scheme to clear the outstanding cases.

So far the department has organized more than 145 webinars and seminars for the representatives of tax advisors, CAs and business organizations. About 3 lakh taxpayers registered under VAT were requested to avail of the scheme through bulk SMS. Under the scheme, provisions have been made to avail the benefits of a separate scheme in 60 days, 90 days and 120 days. 60 days of the scheme has been completed on 24th November.

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