2019-07-13_Corporate_Professional_Today

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July 13 To July 19, 2019 u Taxmann’s Corporate Professionals Today u Vol. 45 u 37

Details Amount Relief

C. Tax Dues are relatable to amount in arrears or

Tax Dues are relatable to amount in arrears and the declarant has indicated an

< 50 lakhs 60% of Tax dues

> 50 lakhs 40% of Tax dues

amount of duty as payable but not paid it and the amount of duty involved is:

D. Tax dues are linked to an enquiry, investigation or audit against the

declarant and the amount quantified on or before 30th June

< 50 lakhs 70% of Tax dues

> 50 lakhs 50% of Tax dues

5. How process to apply under the scheme?

Eligible

person

Designated

Committee

Committee

estimate

the amount

payable

File E-declaration

Verification in

all cases other

than voluntary

disclosure

If such amount =

amount declared in

E-declaration - Issue

E-statement within 60

days, otherwise issue

E-statement within

30 days

Process 1

On reciept of

E-statement

Designated

Committee

Deposit tax within

30 days.

Issue discharge

certificate on deposit

of tax & on proof

of withdrawal of

appeal

Process 2

Whether the amount payable under the

scheme can be paid by utilizing input tax

credit?

6. No, amount payable under the scheme
   can only be paid in cash.

The amount paid under the scheme can

be refunded under any circumstances?

7. No, the amount under this scheme can
   not be refunded.

What is the treatment of pre-deposit or

other deposit already paid under the

erstwhile indirect tax regime?

8. The tax relief calculated shall be subject
   to the condition that any amount paid
   as pre-deposit at any stage of appellate
   proceedings under the indirect tax enactment
   or as deposit during enquiry, investigation
   or audit, shall be deducted when issuing
   the statement indicating the amount payable
   by the declarant. Furthermore, in case any
   pre-deposit or other deposit already paid

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