The tax demand raised by the authorities under the proposed goods and services tax (GST) regime can be paid in monthly installments for up to two years, on a case by case basis, in the case of financial hardship.The revised draft GST model Bill, approved by the GST Council on Saturday, gives powers to tax officers to allow a taxpayer to pay dues in a staggered manner if he is facing a crunch in finances.The move is aimed at improving the scope of revenue recovery without causing hardship to the assessees.
“A provision for installment for the payment of tax has been allowed in the law, in the case of assessment.Commissioners have been empowered to examine and approve the mode of payment of dues,” said a senior government official in the ministry of finance.Payments made via installments will escape penalty but not interest.
Business Standard, 6 March 2017
