Uttar Pradesh Government (Commercial Tax Department) has come with a plan of Interest Wavier Scheme 2021 (“Scheme”). The Scheme shall be applicable to all orders under Uttar Pradesh Trade Tax Act 1948, Central Sales Tax Act 1956, Uttar Pradesh Entry Tax Act 2007, U.P. Cable Television Network (Exhibition) Rules, 1997 etc. and shall be effective from March 3, 2021 for 3 months.
The Scheme has been introduced with following objectives:
- To lower the tax burden of the taxpayer so that they can focus on GST.
- As a result of the Scheme, the businessman has the opportunity to focus his attention completely on GST.
- Merchants are free from undue harassment.
- Application has to be submitted portal, no requirement to visit department.
- Help Desk for each location for local assistance of merchants.
- 100% waiver of interest and penalty for small traders having turnover upto Rs. 10 lakhs.
- 90% interest waiver and 100% penalty waiver for traders having turnover above Rs 10 lakh but less than Rs 1 crore
- Attractive discounts for big traders also.
Source from: https://twitter.com/ComtaxU/status/1367706739349463046