According to the latest reports, on Monday, March 21, Maharashtra Deputy Chief Minister Ajit Pawar in the state assembly announced the 'Maharashtra Tax, Interest, Punishment or Delay Tariff Compromise-2022' bill to get the industry and trade sector out of trouble, following the aftermath of COVID-19.
कोरोना संकट काळात अडचणीत आलेल्या उद्योग, व्यापार क्षेत्राला बाहेर काढून उभारी देण्यासाठी ‘महाराष्ट्र कर,व्याज,शास्ती किंवा विलंब शुल्क तडजोड - २०२२’ अभय योजना आज विधिमंडळात जाहीर केली.यासंदर्भातील विधेयक विधिमंडळाच्या दोन्ही सभागृहात आज मंजूर करण्यात आले.#अर्थसंकल्पीयअधिवेशन२०२२
— Ajit Pawar (@AjitPawarSpeaks) March 21, 2022
It has been reported that the bill was passed in both the houses of the legislature. Pawar was quoted in accounts elaborating on how the scheme is in cognizance with various taxes prior to the introduction of Goods and Services Tax (GST). The time period from April 1 to September 30, 2022, will be given to pay the necessary amount.
Pawar remarked that the scheme will be implemented online and in a transparent manner. By statutory orders within one year under the tax law, if INR 10,000 is the case of arrears, the amount of arrears will be waived in full, said the Deputy CM. Based on narratives, around one lakh small traders will benefit from this announcement.
In order to avail of the benefits of this, a lump sum payment of the required amount has to be made within the prescribed period. Moreover, such traders have been provided with the option of an instalment concession for the required amount to be paid under Abhay Yojana.
Pawar took to Twitter elaborating on how the total instalment concession is divided into four parts and the first instalment of 25 per cent is required to be paid by September 30, 2022. The remaining three instalments will have to be paid in the next nine months. If the payment is less than the required amount, the trader will be given a proportional benefit.
Also Read: Maharashtra Budget 2022: Here Are Mumbai’s Key Takeaways
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