CHENNAI: Finance minister O Panneerselvam on Thursday announced that a new Samadhan scheme would be introduced from October, lasting till March 31, 2012, for collection of tax arrears.Presenting the Budget for 2011-12, the minister said a large number of cases involving a substantial amount of revenue by way of taxes, penalty and interest under the Tamil Nadu General Sales Tax (TNGST) Act and others have been pending for several years. The government has received representations from various trade associations for re-introduction of the Samadhan scheme for expediting settlement of pending cases.Registration documents referred under section 47-A of the TNGST Act are pending inspection and fixation of market value. As a result of this, the persons concerned were unable to get back the documents and the revenue due to the government was unnecessarily locked up. The Samadhan scheme would be re-introduced to realise this revenue and benefit the people by enabling them to get back their documents using this scheme. “It is expected that these initiatives will help mobilise `125 crore additionally during 2011-12,” hoped Panneerselvam.He said the recent hike in taxes on certain items was expected to yield an additional revenue of `3,618 crore this year.
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