In wake of the June 30^th , last date of the One Time Settlement (OTS) the officials of State GST (SGST) department are urging businessmen to get their assessments done to take benefit of this scheme. On Tuesday the GST officials met a delegation of the Fasteners Suppliers Association Ludhiana (FSAL) led by president Rajkumar Singla met the officials to discuss the possibilities of spreading awareness about the scheme to help more taxpayers to resolve their old assessment cases.

Divulging more details, Singla said, “Today upon invitation of the SGST department, we met AETC Aman Gupta, ETO Sourab Singla and other officials to discuss about the OTS scheme. The OTS is very beneficial for the taxpayers whose tax demand is upto Rs. 1 lakh as they are getting full waiver of the interest and penalty, while for those taxpayers in whose cases the tax demand is more than Rs. 1 lakh and less than Rs. 1 crore they are eligible to get 50 percent waiver of the interest and penalty. Therefore the businessmen should come forward and take benefit of this scheme as this is the last chance to resolve the assessments issue”

Others present on the occasion included Arun Gupta , Munish Sachdeva , Ravinder pal Singh , CA Rajiv sharma and CA Sumir Gupta.

One Time Settlement OTS TAX REBATE VAT ASSESSMENTS STATE GST PUNJAB FASTENERS