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The Tami Nadu Chamber of Commerce and Industry has urged traders with tax arrears to avail themselves of the “Samadhan Scheme” announced by the Government.
In a statement here, the Chamber said that Tamil Nadu Government by an enactment of the Tamilnadu Sales Tax (Settlement of Arrears) Act 2011, had floated a new Samadhan Scheme with a view to collectting large amount of tax, penalty and interest which are still pending under the erstwhile Tamilnadu General Sales Tax Act 1959 and Central Sales Tax Act 1956.
The scheme will be in force for a period of six months from November 1, 2011 to April 30, 2012. The new Act provides another opportunity to traders to settle their sales tax and central sales tax arrears payable to the Government pertaining to the assessment years up to 2006-2007 for which demands were raised prior to August 1, 2011 and against which appeals or revisions are not pending before any court on the date of filing the applications.
Details of the scheme are available at the Tamil Nadu Government Commercial Tax Department Web site www.tnvat.gov.in and traders with Sales tax and CST arrears are advised to avail themselves of this opportunity, the statement added.
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