Haryana CM Launches One Time Settlement Scheme-2025 To Provide Tax Relief For Traders

ENA State 2025-03-24 13:54:18 Chandigarh, Mar 24 (KNN) Haryana Chief Minister Nayab Singh Saini officially launched the One Time Settlement Scheme-2025 during an event in Kurukshetra on Sunday. The initiative aims to alleviate financial pressure on traders while simultaneously enhancing government revenue collection. The scheme specifically targets thousands of small shopkeepers, traders, and entrepreneurs struggling with pending tax obligations. During his address at the launch ceremony, Chief Minister Saini emphasised that the scheme would enable taxpayers to resolve their outstanding tax liabilities and make a fresh financial beginning. A simple and transparent tax system promotes economic growth. The One Time Settlement Scheme-2025 is a step towards that goal by freeing taxpayers from old financial burdens, Saini stated. The scheme introduces significant financial relief measures, offering taxpayers with outstanding dues up to Rs 10 lakh a rebate of up to Rs 1 lakh. The program will remain operational for six months, providing an extended window for compliance. To enhance accessibility and participation, the government has implemented a tiered payment structure based on cumulative outstanding tax amounts. Taxpayers with dues up to Rs 10 lakh will be required to pay 40 percent of the remaining balance after the Rs 1 lakh rebate deduction. Those with liabilities between Rs 10 lakh and Rs 10 crore must settle 50 percent of the outstanding amount. For taxpayers with dues exceeding Rs 10 crore, full payment of the assessed amount is mandatory. The scheme also offers flexibility by allowing those with dues above Rs 10 lakh to make payments in two installments. The Chief Minister highlighted improvements from the previous 2023 version of the scheme, noting the elimination of tax classifications and a complete waiver of penalties and interest. This will reduce litigation, boost recovery, and improve revenue collection, he added. Additionally, Saini announced several complementary initiatives designed to simplify compliance procedures. These include consolidated GST audits, installation of CCTV cameras in tax offices to enhance transparency, and recommendations for GST rule reforms such as automation of refund processes and increased billing thresholds. Reaffirming the government's dedication to trader welfare, the Chief Minister provided updates on additional support measures, including increased commissions for commission agents, incentives for rice millers, and the introduction of trader welfare schemes under the MSME department. (KNN Bureau) 41495 https://knnindia.co.in/news/newsdetails/state/haryana-cm-launches-one-time-settlement-scheme-2025-to-provide-tax-relief-for-traders 2025-03-24 13:54:18 knnindia.co.in Haryana CM Launches One Time Settlement Scheme-2025 To Provide Tax Relief For Traders