Amnesty Scheme 2022

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Anouja Thyagarajan (Querist)
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16 April 2022 Hon'ble Members,
Under Amnesty Scheme 2022, I want to make payment against MVAT raised in Assessment order to the tune of Tax 3 Lakhs & interest 3Lakhs totaling to 6Lakh, in lumpsum option after waiver amount payable is shown in utility as 1.20 Lakhs (i.e. 20% on total arrears). Under Amnesty payment how should i disclose it 20% on 3Lakhs tax & interest separately or only under tax option. Please reply its confusing.

Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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06 July 2024 Under the Amnesty Scheme 2022, if you are making a payment against the MVAT (Maharashtra Value Added Tax) assessment order, here’s how you should typically disclose it:

1. **Total Amount**: Tax of 3 Lakhs + Interest of 3 Lakhs = Total 6 Lakhs.
2. **Waiver Amount**: After the waiver, the amount payable is shown as 1.20 Lakhs.

To disclose the payment correctly under the amnesty scheme:
- The waiver implies that you are only required to pay 20% of the original tax and interest amount, which is 20% of 6 Lakhs, i.e., 1.20 Lakhs.
- This payment of 1.20 Lakhs should be split between tax and interest proportionally. Since both tax and interest were originally 3 Lakhs each:
- Tax portion: 20% of 3 Lakhs = 0.60 Lakhs.
- Interest portion: 20% of 3 Lakhs = 0.60 Lakhs.

Therefore, when making the payment of 1.20 Lakhs under the Amnesty Scheme 2022, you should disclose it as:
- Tax: 0.60 Lakhs
- Interest: 0.60 Lakhs

This ensures compliance with the amnesty scheme's requirements for payment disclosure. Always double-check with the specific guidelines and utility forms provided by the tax authorities to ensure accuracy in disclosure.