The State Government of Karnataka on 29th December 2021, has extended the time for payment of tax to avail the benefits under Karasamadhana Scheme on account of inconvenience faced by Trade and Industries due to lockdown imposed in the State.
Therefore the time for completion of assessments /re-assessments/rectification and other proceedings is extended upto 31st January 2022 and the date of payment is extended upto 15th February 2022.
Karasamadhana Scheme was introduced with a view to reduce the arrears arising out of the enactments administered by the Commercial Taxes Department which existed before the introduction of Goods and Services Tax Act.
The scheme grants 100% waiver of arrears of penalty and interest payable by a dealer under the Karnataka Sales Tax Act, 1957 and Central Sales Tax Act, 1956 relating to the assessments / re-assessments/ rectification orders already completed and as the case may be.
