Kurukshetra: The Haryana government has introduced a One-Time Tax Settlement Scheme to provide tax relief and penalty waivers for small traders. This initiative is expected to ease the financial burden on businesses struggling with pending tax disputes. The scheme offers significant exemptions on outstanding tax amounts, benefiting a wide range of taxpayers across the state.
Tax Exemptions and Payment Structure
Under this scheme, traders with tax disputes involving amounts less than Rs 10 lakh will need to pay only 40 per cent of the outstanding amount, with the remaining 60 per cent being waived off.
For disputes ranging between Rs 10 lakh and Rs 10 crore, taxpayers will be required to pay 50 per cent of the outstanding dues, while receiving exemptions on penalties and additional taxes.
For disputes exceeding Rs 10 crore, taxpayers will have to clear the full outstanding amount but will benefit from penalty and tax waivers under the settlement scheme.
Implementation and Chief Minister's Announcement
Speaking at the launch event, Chief Minister Nayab Singh Saini emphasized that the scheme primarily aims to assist small traders while also providing relief to larger businesses. He reiterated that taxpayers play a crucial role in the state’s economic development, and such initiatives contribute to the growth of both Haryana and the nation.
"We have launched this One-Time Settlement Scheme to support small traders. It will benefit not just big industrial units and taxpayers but also small-scale business owners," the Chief Minister stated.
Effective Date and Previous Initiatives
The new scheme will come into effect from April 7, allowing eligible taxpayers to apply for relief. The state government has positioned this move as a response to long-standing demands from traders to resolve pending tax disputes, especially those dating back to pre-GST implementation.
Earlier this year, the government had introduced One-Time Settlement-2023 (OTS) Scheme, which was operational between January 1, 2024, and March 30, 2024. The latest initiative extends the benefits further, providing an opportunity for more businesses to settle their tax liabilities.
A Step Towards Economic Growth
The Chief Minister expressed gratitude to Haryana’s taxpayers, acknowledging their contributions to making the state a leader in tax collection. "Haryana has become one of the top states in tax collection, thanks to our taxpayers. This scheme will encourage compliance and support businesses in financial distress," he later wrote on X (formerly Twitter) in Hindi.
With this tax relief initiative, the state government aims to promote a business-friendly environment, ensuring that small traders and enterprises can operate without excessive financial stress.
