The Maharashtra legislature on Monday passed a Bill to provide for settlement of arrears of tax, interest, penalty or late fee that were payable under Acts prior to the implementation of Goods and Services Tax (GST).
Finance Minister Ajit Pawar said the move would benefit small industries, traders and other dealers who have undergone financial stress due to COVID-19. “A large number of cases involving outstanding dues and litigations are pending. In order to unlock the amount involved in the outstanding dues and reduce the old pending litigations, the government considers it expedient to provide for a scheme for settlement of arrears of tax, interest, penalty or late fee,” Mr. Pawar said.
