In line with the pan-India initiative of the Union and State Governments to reduce pending litigation, the Government of Telangana has introduced a ‘One Time Settlement Scheme’ vide Order No. G.O.Ms. No. 45 dated 9 May 2022 to settle disputes under various legacy tax legislations such as Andhra Pradesh General Sales Tax Act, 1957, the Telangana Value Added Tax Act, 2005, the Central Sales Tax Act, 1956 and the Telangana Entry of the Goods into Local Areas Act, 2001.
The scheme, on the face of it, is quite attractive and provides for various benefits like payment of only 50% of the disputed tax dues, complete waiver of interest and penalty, etc. The last date for submission of application for opting the scheme is 30 June 2022. Considering the narrow window presented to the taxpayers, it is imperative to understand the pros and cons of opting for the scheme. Reviewing the strength and weakness of each of the pending cases and formulating a proper strategy on whether to opt for the scheme is the need of the hour.
Through this webinar, the speakers will analyse the broad contours of the scheme, the benefits available under the scheme and the way forward for taxpayers.
Speakers:
- Narendra Dave, Partner, L&S
- Jagannadh Grandhi, Joint Partner, L&S
- Satya Sai, Joint Partner, L&S
- Ranadeep Voriganti, Principal Associate, L&S