Karnataka introduces ‘Karasamadhana Scheme’ waiving interest / penalty on tax arrears before GST

Karnataka Govt. introduces Karasamadhana Scheme, 2017 (‘Scheme’) with an aim to reduce arrears of tax and other amounts before introduction of GST; Scheme inter alia grants waiver of 90% of arrears of penalty and interest payable by dealer / person / proprietor – (i) under Karnataka Sales Tax Act and Central Sales Tax Act relating to AYs upto March 31, 2005, (ii) under Karnataka VAT Act & CST Act relating to assessments / reassessments for tax periods from Apri...