One Time Payment of Tax Scheme, 2019

Sep 26, 2019 | by Avantis RegTech Legal Research Team


The State Government of Maharashtra on September 18, 2019, has published the One Time Payment of Tax Scheme, 2019 to provide an optional Scheme for the payment of tax in advance, for an enrolled person under the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975.

This Scheme is published in supersession of the Notification No. PFT.1218/C.R.52/Taxation-3, dated February 22, 2019. This Scheme shall be deemed to have come into force on July 09, 2019.

The conditions and restrictions to avail the benefit under the Scheme are as follows:

Ø  The person must be enrolled under the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975 and it can opt the Scheme on the Department’s website www.mahagst.gov.in at any time after his enrollment.   

Ø  The person shall select the period for the Scheme as well as tax rate applicable to him and shall pay requisite amount. Such person may opt for the Scheme again after earlier period under the Scheme is over. However, the benefit can be availed at a time for a minimum period of three years upto a maximum period of thirty-five years.

Ø  The enrolled person who has discharge his liability for payment of tax for a total continuous period of five years by making payment in advance of a lump-sum amount, prior April 01, 2018, may also opt for the Scheme after completion of such period of five years.

Ø  The enrolled person who has already paid Profession Tax for the year 2018-2019 or has paid any lump-sum amount on or after 1st April 2018 for the periods starting from April 01, 2018, can also avail the benefit of Scheme by paying the balance amount.

Ø  If the enrolled person, who has availed the benefit of Scheme and has discharged his liability of Profession tax for a particular period, joins any employment during the period covered under the Scheme then, such person shall furnish to the employer ‘One Time Profession Tax Payment Certificate’ in Form A of this Scheme.

Ø  If it appears that, the person has availed the benefit of the Scheme by suppressing any material information or particulars or by furnishing any incorrect or false information or, if any suppression of material facts, concealment of any particulars is found then the benefits availed under the Scheme shall be withdrawn. Such person shall be liable to pay tax at the rate specified in Schedule I of the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975.


Bookmark

Related Updates



Alternate Text

Get updates on the go on RuleZbook Mobile App.