Synopsis
On March 20, Deputy CM Ajit Pawar introduced the 'Maharashtra Tax, Interest, Penalty, or Late Fee Bill, 2025' in the Legislative Assembly, launching a special amnesty scheme to help public sector enterprises settle outstanding dues efficiently.Key Takeaways
- Special amnesty scheme for public sector enterprises.
- Outstanding arrears estimated at Rs 25,000 crore.
- Scheme aims to facilitate timely revenue deposits.
- Covers taxes applied before GST implementation.
- Online process to ensure transparency in implementation.
Mumbai, March 20 (NationPress) Deputy Chief Minister and Finance Minister Ajit Pawar on Thursday presented the 'Maharashtra Tax, Interest, Penalty, or Late Fee (Settlement of Arrears Payable by Public Sector Undertakings) Bill, 2025' in the Legislative Assembly.
This Bill introduces a special amnesty scheme for public sector enterprises.
Currently, public sector enterprises of the central and state governments face outstanding arrears totaling approximately Rs 25,000 crore.
The scheme aims to enhance the efficiency of settling outstanding dues, ensuring that pending revenues are deposited into the state treasury, thus making funds available for developmental projects.
Ajit Pawar had announced the amnesty scheme during the presentation of the annual budget for 2025-26. The bill is designed to offer relief to public sector enterprises across both central and state governments.
This scheme will encompass various taxes applied by the state tax department prior to the implementation of the Goods and Services Tax (GST).
To support recovery efforts, Pawar indicated that the government plans to provide special concessions. The settlement scheme will remain active from the date the bill is enacted until December 31, 2025.
Arrears dated from April 1, 2005, to June 30, 2017, will qualify for this scheme. However, concessions will not apply to undisputed taxes, with the payment of 100 percent of such dues being obligatory.
Ajit Pawar also emphasized that the scheme will be executed transparently through an online process.
Earlier, the state government introduced a Bill to amend the Maharashtra Stamps Act, 1958.
This amendment was required after Deputy Chief Minister and Finance Minister Ajit Pawar proposed mobilizing additional revenue by revising the stamp duty on specific documents in his budget for 2025-26.
“Section 4 of the Stamp Act is proposed to be modified to increase the stamp duty rate, which has been nominally set from Rs 100 to Rs 500 if more than one document is utilized to complete a transaction,” the bill states.
“Sections 10 and 10D of the Stamp Act are proposed to be revised to facilitate online payment (e-payment) and to introduce a new provision for an “e-stamp certificate,” allowing individuals to pay stamp duty online from anywhere at any time,” adds the bill.
Additionally, the bill states, “Subsection (1) of section 31 of the Stamp Act is proposed to be amended to increase the adjudication fee from Rs 100 to Rs 1,000 for the chargeability of the instrument, requiring a certain amount of stamp duty to be deposited while filing an application for adjudication of executed instruments.”
