To ease the burden on traders and promote smoother compliance with the Goods and Services Tax (GST) regime, Chief Minister Pramod Sawant announced today that the state government has waived off pre-GST arrears amounting to Rs 49.5 crore for approximately 16,400 traders under the one-time settlement (OTS) scheme.
The Chief Minister highlighted that the objective of the OTS scheme, launched in October 2023, is to facilitate the transition to the GST regime with minimal arrears and legal disputes. Under the scheme, traders were given the opportunity to settle their pending dues and receive substantial waivers. The last date to clear outstanding dues to avail benefits under the scheme is March 7, 2024, with no further extension to be granted, as emphasized by the Chief Minister.
Traders who have benefited from the waiver can download their certificate from the official portal https://goagst.gov.in/. The OTS has been implemented under the Goa (Recovery of Arrears of Tax, Interest, Penalty, Other Dues through Settlement) Act, 2023 (Goa Act 34 of 2023), also known as the GRATIPOS Act.
Under the provisions of the Act, dealers were encouraged to apply for settling dues related to assessments up to June 30, 2017, under various tax acts, including the Central Sales Tax Act, Goa Sales Tax Act, Goa Tax on Luxuries Act, Goa Entertainment Tax Act, and Goa Tax On Entry of Goods Act.
The OTS scheme offers different benefits based on the nature of the cases. For undisputed cases, a 20% rebate in tax dues and a 100% rebate in interest, penalty, and other dues are provided. In the case of disputed cases, traders can avail a 50% rebate in tax dues along with a 100% waiver in interest, penalty, and other dues.
The Chief Minister encouraged traders to take advantage of this opportunity before the deadline and expressed the government's commitment to supporting businesses in their compliance with the tax regime while minimizing financial burdens. The move is expected to foster a more conducive environment for businesses in Goa, promoting growth and compliance with tax regulations.