Karnataka Karasamadhana Scheme: For Pre-GST Arrears Settlement, Offering Penalty and Interest Waiver the Karnataka government has introduced the Karasamadhana Scheme 2023. The scheme provides a 100% waiver on the penalty and interest payable to those who paid outstanding tax on or before December 31, 2023. Today in this article we will provide detailed information about the Karnataka Karasamadhana Scheme like how to apply for it, eligibility, documents and the rules of the scheme, etc.
Karnataka Karasamadhan Scheme 2023
On July 18, 2023, the Karnataka government established the Karasamadhana Scheme through Order No—FD 07 CSL 2023 in Bengaluru. The main objective of this scheme is to collect overdue taxes from before the GST and resolve tax issues without legal action. If you have paid all of your tax debts by December 31, 2023, you will not be charged any penalties or interest. If a case has had various assessments, corrections, edits, or appeals and is set to finish by October 31, 2023, it may be able to qualify for a waiver as long as there are no unpaid taxes, but there are late fees and interest arrears. In order to avail of the benefits of the Scheme, if you receive notice from the Assessing authority, Recovery Officer, or Prescribed Authority, you must pay the remaining tax amount within fifteen days of the date of receipt of information or on or before January 15, 2024, whichever is earlier. Please note that if any portion of the payment is still due on the designated date, you will lose the ability to use the benefits of the Scheme.
|Karnataka Karasamadhana Scheme
|Government Of Karnataka
|To collect overdue taxes
|Residents Of Karnataka
Objectives Of The Karnataka Karasamadhana Scheme
- The main objective of this scheme is to collect overdue taxes from before the GST and resolve tax issues without legal action.
- To make it easier to resolve pre-GST legacy tax disputes and collect tax refunds quickly without resorting to litigation.
Benefits & Features Of The Karnataka Karasamadhana Scheme
- The application deadlines for the scheme are extended by the government.
- The state government will give 100% of its money to all property dealers.
- Under the KST regime, the KST Act and CST Act’s plan provide a 100% waiver of the arrears of penalty and interest.
- For assessment, reassessment, rectification, revision and appeal orders which have already been executed or will be completed on or before October 31, 2023.
- Under this scheme, with the exception of certain circumstances, a 100% waiver of penalty and interest arrears for assessment, reassessment, rectification, revision and appeal orders of the KVAT Act and CST Act is guaranteed or will be resolved by October 31, 2023.
To apply for the Karnataka Karasamadhana Scheme, applicants must meet the following eligibility criteria:
- Individuals with any type of personality are not eligible for the plan outlined in section 10 A of the GST.
- It is important to print out the payment confirmation once you have completed it to have a record of it.
- The applicant’s payment status must be required.
- Please ensure that the physical copy is submitted to the tax department.
- Aadhar Card
- Pan Card
- Business Card
- Residence Certificate
- Mobile Number
- Email Id
How To Apply For Karnataka Karasamadhana Scheme?
To apply for the Karnataka Karasamadhana Scheme, the user must follow the steps provided below.
- Application Submission: To take part in this program, dealers, individuals, or proprietors must submit a separate application electronically for each assessment year, using the format specified by the relevant Acts. The application deadline is December 31, 2023.
- Review and Discrepancies: The concerned authority will review your application and check the tax, penalty and interest owed till the date of filing. Within 15 days from the date of application submission, the applicant will be informed about any discrepancy found.
- Payment: If any errors are found in the application, the applicant may choose to pay the balance dept within 15 days of receipt of the intimation, on or before January 15, 2024, or both, whichever is earlier.
- Withdrawal of Appeals/Applications: While requesting for the waiver of penalty and interest dues, the applicants will also have to provide a declaration in favour of any pending appeal or withdrawal of the application.
- Order of Waiver: Under the applicable act If the applicant is eligible for the scheme benefits then the Assessing Authority, Recovery Officer, or Prescribed Authority will issue an order waiving the remaining amount of arrears of penalty and interest payable.
Other Karnataka Government Schemes
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