The Kerala government has issued a notification under the Kerala Finance Act, 2024, specifying rates and timelines for settling tax arrears and disputes. This notification, SRO No. 1153/2024, published in the Kerala Gazette Extraordinary, amends earlier provisions related to tax payment for pending dues.
Key highlights include
- Applicable Periods: The notification outlines rates for arrears or surcharge payments filed under Section 9(1) for the periods from August 1 to December 31, 2024.
- Structured Rates: Payments are categorized into slabs based on arrear amounts:
- For arrears between ₹50,000 and ₹10 lakhs, rates range from 32% to 38% based on payment timelines.
- For arrears exceeding ₹1 crore, rates vary from 72% to 88%.
- Deadlines: No payment will be accepted beyond March 31, 2025, under these provisions.
The notification emphasizes timely compliance and introduces a progressive payment structure to resolve pending disputes under the GST framework.
This amendment aims to streamline revenue collection and incentivize businesses to clear arrears promptly, fostering transparency and efficiency in tax administration. Businesses are advised to review the detailed provisions and settle their dues accordingly.
Official copy of the notification has been attached
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