Shimla: The simple and lucrative scheme, Legacy resolution scheme initiated by the State Excise and Taxation Department in Himachal, so far has recovered Rs 108 crore this week. 

Revenues stuck due to long pending litigation has been realized by this huge effort put in by the departmental officials, said State Excise and Taxation Commissioner Rohan Chand Thakur.

He informed that the scheme is aimed to facilitate the industries and traders to settle the pending arrears as well as any demand that might occur on account of disposal of pending assessments under taxation law subsumed under the HP GST Act. 

“Under this scheme the assesse has to pay only 10% over and above his existing outstanding tax liability. However, this happens only when the pending litigation is withdrawn by the interested party,” he said.

The basic idea being to promote an investor friendly climate and ease of doing business, he said, adding that like other successful schemes launched by the Chief Minister for the overall development of the state, this scheme is also proving to be a milestone in the collection of government revenue. 

Many Industries and Traders Associations have welcomed the scheme and have expressed their gratitude to for bringing out a simple and lucrative Scheme,he added.

Some of the prominent names to settle have been Indian Tobacco Company, Dabur India, JP Associates, JSW Hydro and JP Associates.

This Scheme was brought out in January 2020 but the results in terms of revenue flows have started mainly from October. Despite the outbreak of COVID-19 pandemic and subsequent lockdowns, the department officials collected a sum of 46 crores in December and have realized more than 30 crores in January 2021 already.

The department has so far collected more than Rs. 100 crore out of which the major chunk of amount was recovered in the last two months.

The last date of the scheme is 21 January and it is likely that the realizations will increase further as many parties have shown keen interest to settle in the last one month, said Thakur.

“These revenue are expected to cover up the gap which has arisen due to the pandemic this year. Substantial work by department officials in this has involved substantial awareness campaign backed up by regular communication and negotiations with interested parties,” he added.

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Rahul Bhandari is Editor of TheNewsHimachal and has been part of the digital world for last 15 years.