Karnataka Government issues Extension of time for to avail the benefits under Karasamadhana Scheme

Jul 20, 2021 | by Avantis RegTech Legal Research Team

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Finance & Taxation Compliance

The Finance Secretariat of Karnataka on July 17, 2021 has issued Extension of time for to avail the benefits under Karasamadhana Scheme.

The Karasamadhana Scheme has been introduced with a view to reduce the arrears arising out of the enactments administered by the Commercial Taxes Department which existed before the introduction of Goods and Services Tax Act. 

The following dates have been Extended :

•The assessments/ re-assessments/ rectification orders already completed and to be completed on or before August 31, 2021, instead of July 31, 2021.

•In case a person or dealer who makes full payment of arrears of tax on or before December 31, 2021, instead of October 31, 2021, shall be granted a waiver of 100% of arrears of penalty and interest payable.

• All payments should be made within fifteen days from the date of receipt of information or on or before January 15, 2022, instead of November 15, 2021, whichever is earlier in cases where information received is from the Assessing authority/Recovery Officer/Prescribed Authority.

[Notification No. 695]

 


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