Maharashtra Government Introduces Amnesty Scheme for GST Liabilities
The Maharashtra government has launched an amnesty scheme aimed at waiving interest and penalties associated with pending liabilities under the Goods and Services Tax (GST) for the fiscal years 2017 to 2020. Deputy Chief Minister Ajit Pawar made this announcement during a session in the state legislature on Wednesday. The deadline for taxpayers to take advantage of this scheme and settle their dues without incurring additional charges is set for March 31.
Currently, the total disputed amount under GST for the state is approximately Rs 54,000 crore. Authorities anticipate receiving around 1.14 lakh applications from taxpayers involved in these disputes. Of the total disputed amount, Rs 27,000 crore is related to the core tax, while the other Rs 27,000 crore pertains to penalties and interest.
Based on historical trends, it is estimated that about 20% of the disputed amount may be collected under this scheme, which would result in an expected collection of Rs 5,500-6,000 crore. From this total, approximately half, equal to Rs 2,700-3,000 crore, will be deposited into the state’s treasury, with the remainder allocated to the Central government.
This initiative is poised to provide significant relief to businesses, offering a much-needed financial respite. Deputy Chief Minister Ajit Pawar also emphasized that the government is launching extensive awareness campaigns to inform taxpayers, legal professionals, chartered accountants, and the general public about the benefits of this scheme.
Radhika Goyal is Author of Taxconcept Gurugram head office, for deeply reported tax, gst and income tax articles on issues that matter. He splits her time between New Delhi and Bengaluru, and has worked as a reporter, a podcaster and an editor for publications across India.