Kurukshetra (Haryana) [India], March 28 (HBTV): The Haryana government has introduced a one-time tax settlement scheme aimed at providing tax relaxation and waiving penalties for small traders.

Under this scheme, the state government, led by Chief Minister Nayab Singh Saini, has decided to exempt 60 per cent of the outstanding amount for disputes involving less than INR 10 lakh.

‘For disputed taxes under INR 10 lakh, taxpayers will pay 40 per cent of the outstanding amount,’ the chief minister said.

For disputes ranging from INR 10 lakh to INR 10 crore, taxpayers will be required to pay 50 per cent of the outstanding amount.

For disputes exceeding INR 10 crore, taxpayers must pay the full outstanding amount while still benefiting from tax and penalty exemptions.

This one-time settlement scheme will come into effect on April 7, the chief minister announced while speaking to reporters after the launch event.

‘We have introduced this scheme for small businesses. The One-Time Settlement Scheme will be beneficial not only for large industrial units and taxpayers but also for small-scale taxpayers. The state is progressing due to the hard work and contributions of taxpayers. Such schemes help both the country and the state to move forward,’ the chief minister stated.

Expressing gratitude to the taxpayers of Haryana, he later wrote on X in Hindi: ‘I thank all the taxpayers of Haryana, due to whom Haryana has become the leading state in tax collection.’

The scheme addresses a long-standing demand from Haryana’s traders and business community to settle pending tax payments from before the implementation of GST. The One-Time Settlement-2023 (OTS) Scheme was launched earlier this year and has been operational from January 1, 2024, to March 30, 2024.

(ANI)