“Settlement of Dispute Scheme under MVAT and CST: Boon for ignorant Tax payer”: CA. Shailendra Jain

CA Shailendra Jain, an eminent faculty on the subject while addressing the gathering said that Government of Maharashtra has brought in the settlement scheme to clear all the unresolved disputes during pre-GST era right since BST and MVAT Act. He elaborated the various benefits covered in the scheme.To understand Salient features of Maharashtra Settlement of Arrears of Tax, Interest,Penalty or Late Fee Ordinance, 2019 and its procedural aspects related to various Acts administered by the Maharashtra Goods and Services Tax Department, the seminar has been organized by Nagpur Branch of WIRC of ICAI for its members.

He mentioned that: “Soul of the settlement Scheme is Disputed Taxes”

While analyzing the scheme, Shri Jain informed that Government has brought in the scheme for two different periods. One is for Disputes arising prior to 31.03.2010 and other is for disputes arising after 31.03.2010. Time limit for payment and duration of submission of application under 1^st Phase of the scheme is between 1^st April 2019 to 30^th June 2019 and under 2^nd Phase is 1^st July 2019 to 31^st July 2019. Taxes to be paid under the scheme is 100% of Undisputed Amount and for disputed amount it varies according to phases and period of Dispute.

1. Jain further shared that Application should be made to designated Authority in prescribed format, in Form 1, if dispute is arsing against any statutory order and in Form 1A, in any other case. To meet the challenges of GST and focus on its implementation, the Department is planning to complete the pending work under the existing laws at earliest. For this, the Government, has taken series of legislative steps like risk based criteria for selection of cases for assessment, criteria for dropping of certain pending assessment proceedings,allowing rectification of the assessment order where set off is disallowed due to non-confirmation etc, he said.

Chairman of Nagpur Branch CA Suren Duragkar welcomed all the delegates & assured all the members that representation will be made to the concerned authority for easing out the ordinance to pass on the benefits of the scheme to masses and requested all the members to propagate the scheme to the fullest, being last opportunity to clear old cases.

Regional Council Member CA Abhijit Kelkar, mentioned that this ordinance can be successful with the help of professionals and elaborated the need for such schemes by the government from time to time. He requested the commissioner of GST, to keep a broader view in few points in the ordinance so as to pass on the benefits of this scheme to larger sector of tax payers.

The Technical sessions was conducted by CA Akshay V Gulhane, Managing committee Member of Nagpur Branch of ICAI & formal vote of thanks proposed by Secretary CA. Sake tBagdia.

Prominently present on the occasion were CA Kirit Kalyani, Vice Chairman Nagpur Branch, CA Saket Bagdia, Secretary, CA Jiten Saglani, Treasurer, CA Sanjay Agrawal, WICASA Chairman & CA. Harish Rangwani, Executive Committee Members, along with other registered delegates.