The Modi government’s big gift to traders, the interest waiver scheme for defaulters was re-implemented


The interest waiver scheme was implemented on February 28 for 3 months, but CoronaBecause of this the maximum trader will not be able to take advantage of the scheme. The government has re-implemented the scheme. The scheme will be effective till October 31 as per the public order from the Commissioner of Commerce. If a trader owes a tax of Rs. Amount You can apply by submitting. You can deposit the remaining amount in monthly or quarterly installments in one year.

During the Corona period the state government gave more relief to the traders

The state government has given more relief to traders during the Koro period. Interest Waiver Scheme 2020 (Plan) for Commercial and Entertainment Tax Defaulters has been re-implemented till 31st March 2019. Under this, up to 75 per cent interest will be waived on the outstanding amount of traders. About 17,000 traders from four districts of Prayagraj zone will benefit from this scheme. About Rs 27.42 crore is due on these traders. Merchants can also deposit 25 per cent interest on the principal amount and installments.

Debt and interest arrears

  • Up to 10 lakh -75
  • 10 lakhs to one crore- 50
  • 01 crore to 5 crore-
  • More than 05 crores- 10

This action is possible on non-deposit of loan

Failure to deposit the loan may result in attachment of the trader’s property, arrest, seizure of bank account etc. Prayagraj zone includes Prayagraj, Pratapgarh, Kaushambi and Fatehpur districts.

The Additional Commissioner of Commerce spoke

“The chief minister has implemented the scheme in the interest of traders,” said Dayashankar Tiwari, Additional Commissioner, Commerce, Grade-I. Traders should take maximum advantage of it. 75% interest waiver is a big deal. If there is a problem, contact the officer, the problem will be solved.

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