Pending VAT Cases: Chandigarh traders resent delay in one-time settlement scheme

Members of the Chandigarh Beopar Mandal (CBM) have resented the delay by the UT Administration in implementing the one-time settlement scheme for all pending VAT assessment cases on Punjab pattern.

A meeting of the traders’ body was held to hail the amnesty scheme announced for traders of Punjab, exempting liabilities up to Rs 1 lakh and reducing 50% of taxation liability from Rs 1 lakh to Rs 1 crore as well as full concession in interest and penalties. CBM president Charanjiv Singh and other office-bearers, including Ram Karan Gupta, Diwakar Sahoonja, Sanjeev Chadha, Naresh Mahajan and Harjeet Singh, attended the meeting.

The members resented that in spite of so many appeals and memorandums by the CBM to officials of the Chandigarh Administration and even to representatives of the ruling party, nothing substantial cut in huge penalties arriving from VAT cases had been announced till date.

Charanjiv said they were being penalised for 6 to 7-year-old cases although other states were bringing in amnesty schemes to give relief to traders.

Ram Karan, who is also chairman, GST sub-committee, CBM, said traders were unhappy with the Chandigarh Administration for delaying the launch of the OTS scheme for assessment of old VAT cases in spite of promise by senior officials and ruling party leaders.

Read more at: moneycontrol