India News | One Time Settlement Scheme for Taxpayers to Be Implemented from Next Week: Nayab Saini

Chandigarh, Mar 17 (PTI) The Haryana government will implement the One Time Settlement Scheme (OTS) from next week for the convenience of taxpayers, Chief Minister Nayab Singh Saini said on Monday.

Under this scheme, small taxpayers whose dues are less than Rs 1 lakh will have their tax, interest, and penalty completely waived, he said.

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Taxpayers with dues between Rs 1 lakh and Rs 10 lakh will receive a 60 per cent waiver on their interest, penalty, and tax amount.

This scheme will provide relief to 1.50 lakh small traders, Saini, who also holds the Finance portfolio, said while presenting State Budget 2025-26 in the state assembly here.

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Those whose dues are between Rs 10 lakh and Rs 10 crore will receive a 50 per cent waiver on interest, penalty, and tax. Overall, about 2 lakh small and medium traders will benefit from this initiative, he said.

Saini said that it is a matter of pride that Haryana has the second highest growth rate among the big states of the country in GST tax collection.

As against the revenue target of Rs 63,348 crore for the financial year 2024-25, Rs 58,693 crore has been deposited in the treasury as net revenue income till March 12, 2025.

The Chief Minister said at present, there is no limit on the Excise and Taxation Officer (ETO) to issue demand in tax matters. From 1 April 2025, in cases where the tax demand is more than Rs. 2 crore, the Deputy Excise and Taxation Officer (DETC) will now be authorized to issue the notice instead of the ETO.

To increase transparency, Saini proposed to install CCTV cameras in every Excise and Taxation Office and DETC office room of the Excise and Taxation Department.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)