PANJIM: The Commercial Tax Department expects to recover around Rs 200 crore from over 12,000 taxpayers, who have taken the benefit of One Time Settlement (OTS) Scheme 2020.
The Goa (Recovery of Arrears of Tax through Settlement) (Amendment) Ordinance, 2020 was introduced on May 20, 2020 with an objective to reduce litigation and disputes related to legacy taxes such as The Central Sales Tax, 1956; Goa Entertainment Tax Act, 1964; Goa Sales Tax Act 1964, Goa Tax on Luxuries Act 1988; Goa Sales Tax Act 1964; Goa Tax on Luxuries Act 1988; Goa Tax on Entry of Goods Act 2000; and Goa Value Added Tax Act 2005.
The OTS scheme, initially introduced for a period of six months was extended by three months considering financial crunch faced by the taxpayers owing to COVID-19 pandemic.
The scheme that ended on January 31, 2021 received positive response from the taxpayers as the department received a total 12,369 applications. The government expects to recover around Rs 200 crore through this scheme, which aimed at providing relief by full waiver of interest and penalty in the case of disputed and undisputed tax dues. Further, in case of disputed tax dues, 50 per cent tax was also waived.
