The Hon'ble Chief
Minister and Finance Minister, Karnataka State in his budget speech for the
year 2021-22 made on March 8, 2021 had announced that a "Karasamadhana
Scheme, 2021", will be introduced in order to complete the pre-GST
legacy audit and clear tax arrears expeditiously.
In pursuance of the
above, the Government of Karnataka has vide Order no FD 49 CSL 2021,
Bengaluru, dated 29-03-2021 has introduced a scheme for waiver of penalty
and interest under the following laws:
- Karnataka Sales Tax Act, 1957
- Karnataka VAT Act, 2003
- Central Sales Act, 1956
- Karnataka Entry tax Act, 1979
- Karnataka Profession Tax Act, 1976
- Karnataka Luxury Tax Act, 1979
- Karnataka Agricultural Income Tax Act, 1957
- Karnataka Entertainment Act, 1958
The scheme grants 100%
waiver of interest and penalties for all
assessments/re-assessments/rectification orders completed or to be completed on
or before July 31, 2021 subject to full
payment of arrears of taxes on or before October 31,
2021 . The waiver of interest and penalty is subject to
conditions and procedures as detailed in the said order.
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