State Tax Ludhiana Launches Door-to-Door Campaign for One-Time Settlement (OTS) Scheme 2024
The State Tax Ludhiana division has launched a proactive door-to-door campaign to promote the One-Time Settlement (OTS) Scheme 2024. This innovative initiative is designed to recover outstanding VAT and CST dues from defaulters within the jurisdiction. The campaign involves dedicated visits to businesses and individuals with pending dues to inform and educate them about the benefits and procedures of the settlement scheme.
Deputy Commissioner Randhir Kaur highlighted that the One-Time Settlement Scheme 2024 comprises two slabs for settlements. For dues ranging from ₹1 to ₹1 lakh, the entire tax, penalty, and interest are waived off. For dues between ₹1 lakh to ₹1 crore, the taxpayer is only required to submit 50% of the tax, while the remaining interest and penalty are waived off.
It is important to note that the last date for filing applications under the OTS scheme is August 16. Alongside the door-to-door visits, discussions and meetings have been organized with advocates and chartered accountants to promote filing under the OTS scheme. This holistic approach ensures that taxpayers are well-informed and encouraged to clear their liabilities under the scheme.
This comprehensive and proactive strategy adopted by the State Tax Ludhiana division exemplifies a commitment to facilitating voluntary compliance and mutually beneficial resolutions. With the OTS scheme in place, the authorities aim to provide an opportunity for defaulters to regularize their tax obligations while alleviating the burden of accumulated dues. This not only benefits the taxpayers but also contributes to the overall economic health of the region.
