Karnataka Karasamadhana Scheme 2024: How to Apply, Notification, Last Date | ಕರ್ನಾಟಕ ಕರಸಮಾಧಾನ ಯೋಜನೆ

Karnataka Karasamadhana Scheme:- Karnataka Tax Relief Scheme The Government of Karnataka has started expediting the collection of pre-GST dues without recourse to court.

Tax Relief Scheme 2024 was announced by the State Government on 18th July 2023 under FD 07 CSL 2023, Bangalore. Read below to see detailed information about Karnataka Karasamadhana Scheme.

Karnataka Karasamadhana Scheme Details in Highlights

Name	Karnataka Karasamadhana Scheme
Launched by	Government of Karnataka
State	Karnataka
Official Website	vat.kar.nic.in

Karnataka Karasamadhana Scheme Objective(ಕರ್ನಾಟಕ ಕರಸಮಾಧಾನ ಯೋಜನೆಯ ಉದ್ದೇಶ)

Nowadays, you can order anything or do anything online from the comfort of your home. With the help of the internet, we are provided with all these features. However, despite the benefits of these facilities, some people also misuse them.

Since the outbreak of Covid in India, internet service has increased. Even the government is following suit in this regard.

In addition, the government has started conducting most of the country’s financial activities online. Despite the many services provided by the government, many people and large corporations still fail to pay their tax and interest obligations on time. Indian economy suffers as a result.

The Karnataka government has launched a program to address the issue. This scheme aims to resolve pre-GST tax disputes and facilitate faster tax recovery without resorting to litigation.

Features of Karnataka Karasamadhana Scheme

For assessments, re-assessments, corrections, amendments and appeals of orders made or completed on or before 31 October 2023 under the KST regime, 100% waiver of stated penalties and interest is subject to KST Law and under the CST Act scheme for.

The scheme provides for 100% penalty and compensation coverage for liability for assessment, reassessment, adjustment, amendment and court orders under the KVAT Act and the CST Act, which are settled or settled by October 31, 2023, respectively , except in certain circumstances.

For conversion orders that have already been completed or commenced prior to the Government Order and must be completed by October 31, 2023 under all of the Rules described in the preamble, the Plan provides a 100% interest deduction non-payment plus penalties (except in certain cases).

Sections 72 (relating to returns and assessments) and 74(4) (relating to failure to file audited accounts in Form VAT 240) of the KVAT Act each carry different penalties which are exempted under the scheme, if… the tax accepted is paid in full.

Benefits of Karnataka Karasamadhana Scheme

• The government has further extended the deadline for booking the program.
• People who had delayed their applications will have another opportunity to submit their applications.
• The state government will pay all property sellers 100% of their money

Conditions to Participate in the Program

• Each seller, person, or owner must timely pay all back taxes on or before December 31, 2023 to receive a full waiver of penalties and interest.
• If there is any outstanding penalty and interest relating only to assessments, reassessments, corrections, modifications and appeal orders paid or payable by 31 October
• Before applying the Waiver Scheme, Sellers must withdraw any appeal or application already filed in any Appellate Tribunal or Tribunal in response to an order or proceeding relating to tax, penalty, interest or compensation
• Once an application for this program is filed or its benefits are availed, vendors may not file a new claim or application with any administrative authority or court.
• The program is not eligible 31, 2023, where State appeals to Karnataka Appellate Tribunal, Central Sales Tax Appellate Authority, High Court or Supreme Court, or situations where competent authorities initiated revision proceedings before October Correction any shall be made after this date

Eligibility Criteria(Karnataka Karasamadhana Scheme)

• Under GST Section 10A, no personality is considered eligible for the scheme.
• Once completed, you will need to print out the payment schedule for proof.
• The applicant may be required to hear.
• A printed copy must be submitted to the tax department

Documents(Karnataka Karasamadhana Scheme)

• Applicant’s Aadhar Card
• Applicant’s PAN Card
• Business Card
• Residential Certificate
• Mobile Number
• Email ID

Steps to Apply For Karnataka Karasamadhana Scheme

• Application Submission: For each assessment year, dealers, individuals, or proprietors who choose to participate in this program must electronically submit a separate application using the format required by the applicable Acts. The deadline for applications is December 31, 2023.
• Review and Discrepancies: The relevant Assessing Authority, Recovery Officer, or Prescribed Authority will review the applications and check the amount of tax, penalty, and interest owed back to the filing date. Within 15 days of the application submission date, the applicant will be informed of any discrepancies that were discovered.
• Payment: If errors are found, the applicant may choose to pay the remaining debt within 15 days of receiving the information, on or before January 15th, 2024, or both, whichever comes first.
• Withdrawal of Appeals/Applications: When requesting the waiver of penalty and interest arrears, applicants must also provide a declaration in favor of the withdrawal of any pending appeals or applications.
• Order of Waiver: The Assessing Authority, Recovery Officer, or Prescribed Authority will issue an order waiving the remaining amount of arrears of penalty and interest payable by the applicant under the applicable Act for each assessment year or order once they are satisfied that the applicant is eligible for the scheme’s benefits.

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Karnataka Karasamadhana Scheme 2024: How to Apply, Notification, Last Date | ಕರ್ನಾಟಕ ಕರಸಮಾಧಾನ ಯೋಜನೆ brothers, if you are liked given with the information then plz like and share so that other farmer brothers can also be helped.