Punjab Government’s ambitious voluntary disclosure scheme (VDS) has failed to elicit “desired” response from traders with State Excise and Taxation Department now deciding to extend last date to avail VDS by one month.
Noting that VDS was bound to get “lukewarm” response, the trading community said that traders did not come forward to avail this scheme as they feared harassment at the hands of department officials by launching extensive investigation into their trade at later stage. “Not many traders have come forward for VDS. We are going to extend the last date for applying for this scheme by one month till February 28,” a senior official of Punjab Excise and Taxation Department said.
Punjab Voluntary Disclosure of Value Added Tax Scheme, 2013, Scheme allows dealers or traders who have made any discrepancy while discharging tax liabilities to get reprieve from penal action by opting for it. The department had earlier fixed January 31 as last date for traders to apply for this scheme. Under the scheme, dealers or traders could get their “mistakes rectified” by paying outstanding tax along with 1.5 per cent simple interest from the date it became due.
“From the day of its launch, we knew that there will be poor response to VDS. The State Government has not made it traders’ friendly so as to get maximum response,” Punjab Pradesh Beopar Mandal, State Secretary, Mohinder Aggarwal said.
