Nayab Saini Introduces One Time Settlement Scheme-2025 to Support Traders and Shopkeepers

Haryana Chief Minister Nayab Singh Saini introduced the One Time Settlement Scheme-2025 for traders and shopkeepers. This initiative, launched from Kurukshetra, aims to simplify the tax system, which Saini believes is crucial for economic growth and effective governance. A straightforward tax system benefits traders, entrepreneurs, and investors, fostering rapid economic activities.

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The scheme offers significant relief to many taxpayers, particularly small shopkeepers and entrepreneurs. It targets those unable to pay their taxes due to various reasons. Taxpayers with dues up to Rs 10 lakh can receive a rebate of up to Rs 1 lakh. The scheme will be available for six months.

Taxpayer Relief and Revenue Collection

Saini highlighted the challenges faced by Haryana's excise and taxation department in recovering outstanding taxes. The One Time Settlement Scheme aims to reduce these outstanding amounts and related litigation while boosting revenue collection. This initiative is part of a broader dispute resolution programme addressing issues across various sectors.

The scheme is structured around the cumulative assessed outstanding amount. It provides complete exemption from penalties and interest amounts, offering taxpayers a chance to settle their dues more easily. Saini urged taxpayers to clear their dues promptly under this scheme.

Payment Slabs for Outstanding Taxes

To facilitate payments, the government has established three slabs for settling outstanding taxes. For dues up to Rs 10 lakh, taxpayers must pay 40% after deducting the Rs 1 lakh exemption. For liabilities between Rs 10 lakh and Rs 10 crore, 50% of the amount is required. Tax liabilities exceeding Rs 10 crore require full payment.

Taxpayers with outstanding amounts over Rs 10 lakh have the option to pay in two installments. This flexibility aims to ease the financial burden on larger taxpayers while ensuring compliance with tax obligations.

The One Time Settlement Scheme-2025 reflects Haryana's commitment to creating a fair taxation environment. By addressing outstanding tax issues, it supports both taxpayer relief and increased revenue collection for the state.