Rate applicable in determining the amount payable.

The amount payable by an applicant for settlement of arrears of tax, interest and/or penalty shall be as follows:-(a) Where the arrears of tax, interest and/ or penalty have arisen due to non-submission of declaration form or declaration certificate, in Form ‘C’, Form ‘D’, Form ‘E-I/ E-II’, Form ‘F’, Form ‘H’ of the Central Sales Tax (Registration and Turnover) Rules, 1957 or certificates of exemption in Form ST XI A or ST XI B, of the Goa Sales Tax Act, 1964 (Goa Act No. 4 of 1964) or Certificates of Tax Deduction at Source in Form VAT-VII, under the Goa Value Added Tax Act, 2005 (Goa Act 9 of 2005), such dues determined in any order of assessment relating to the specified period under the relevant Act, shall be settled at the rates mentioned in clause (b) and (c) of this section after considering the declaration form or declaration certificate which the dealer has submitted till the date of submission of the application for settlement under sub-section (1) of section 5. (b) Where the arrears of tax, interest and/ or penalty have arisen on account of any order of assessment relating to the specified period and where no review or appeal or revision is preferred against such order or already decided as on the date of commencement of this Act, such arrears, after adjustment as per clause (a) of this section, shall be settled at the rate of 80% of the arrears of tax; and any interest levied thereon and/or penalty imposed thereof shall be waived fully. (c) Where the arrears of tax, interest and/ or penalty have arisen on account of any order of assessment relating to the specified period is disputed, either in review or appeal or in revision or in any other suit or writ petition, filed before any court of law, on or before the date of the commencement of this Act such arrears, after adjustment as per clause (a) of this section, shall be settled at the rate of 50% of the arrears of tax; and any interest levied thereon and/or penalty imposed thereof shall be waived fully. (d) Where the arrears of tax, interest and/or penalty have arisen on account of any order of assessment or reassessment under section 31 or section 31A of the Goa Value Added Tax Act, 2005 (Goa Act 9 of 2005) pursuant to action under section 73 of Goa Value Added Tax Act, 2005 (Goa Act 9 of 2005), relating to the specified period whether disputed or not on or before the date of the commencement of this Act, such arrears shall be settled at the rate of 100% of the arrears of tax; and 50% of penalty imposed thereof and interest shall be waived fully. (e) Where the arrears of tax is less than Rs. 10,000/-, such arrears shall be settled by allowing full waiver from payment of tax, interest and/or penalty. (f) Notwithstanding anything contained in clause (a), (b), (c), (d) and (e) above, the applicant shall not be eligible for refund of any amount that may become excess as a result of settlement under the provisions of this Act. (g) When a certificate of settlement is issued under section 9 of this Act, entire post assessment interest on the dues under the relevant Act for the period covered under certificate of settlement shall stand waived fully.