Rate applicable in determining the amount payable

Rate applicable in determining the amount payable.—(1) The amount payable by the applicant and the amount waived shall be determined as follows:—

1. (a) where the arrears of tax or surcharge in a specified order is above rupees fifty thousand and up to rupees ten lakh on the date of application referred to in sub-section

1. (1) of section 11, the amount payable shall be thirty percentage of such arrears of tax or surcharge, and on payment of the amount payable by the applicant, the remaining arrears of tax, surcharge, interest or penalty payable under that specified order shall be the amount waived;
   • (b) where the arrears of tax or surcharge in a specified order is above rupees ten lakh and up to rupees one crore on the date of application for the settlement under this scheme,—
     • (i) the amount payable by the applicant for the settlement of the admitted tax shall be fifty percentage of the arrears of tax or surcharge, and on payment of such amount, the remaining arrears of tax, surcharge, interest or penalty payable under the relevant Act shall be the amount waived;
     • (ii) the amount payable by the applicant for the settlement of the disputed tax shall be forty percentage of the arrears of tax or surcharge, and on payment of such amount, the remaining arrears of tax, surcharge, interest or penalty payable under the relevant Act shall be the amount waived;
   • (c) where the arrears of tax or surcharge in a specified order is above rupees one crore on the date of application for the settlement under this scheme,—
     • (i) the amount payable by the applicant for the settlement of the admitted tax shall be sixty percentage of the arrears of tax or surcharge, and on payment of such amount, the remaining arrears of tax, surcharge, interest or penalty payable under the relevant Act shall be the amount waived;
     • (ii) the amount payable by the applicant for the settlement of the disputed tax shall be fifty percentage of the arrears of tax or surcharge, and on payment of such amount, the remaining arrears of tax, surcharge, interest or penalty payable under the relevant Act shall be the amount waived: Provided that, in the case where the evidence, details and records pertaining to the penalty levied are not utilized or not liable to be utilized for any best judgment assessment under the relevant Act, the tax or surcharge demand relating to such penalty shall be deemed to be the arrears of tax or surcharge, and the amount payable shall be calculated accordingly.
2. (2) Notwithstanding anything contained in this scheme, if an applicant has remitted or deposited any amount towards the demand in the specified order, or if any amount or its equivalent has been recovered as part of arrear recovery towards the demand in the specified order, such amount already received by the Government shall be deducted from the amount payable, and the applicant shall, along with the application, furnish the proof of payments made in this regard: Provided that any amount paid towards the penalty or interest shall be given credit towards the amount payable: Provided further that, where an assessee who was in arrears of tax or any other amount due under the Kerala Tax on Luxuries Act, 1976 (32 of 1976) had opted for the settlement under section 12 of the Kerala Finance Act, 2019 (5 of 2019) during previous years, but failed to settle the arrears within the period specified under sub-section
3. (7) of section 12 of the Kerala Finance Act, 2019 (5 of 2019), the amount, if any, paid under the said section, after service of specified order, shall be deducted from the amount payable. The applicant shall, along with the application, furnish the proof of payments made in this regard: Provided also that, where an assessee who was in arrears of tax or any other amount due under the Central Sales Tax Act, 1956 (Central Act 74 of 1956) or the Kerala Value Added Tax Act, 2003 (30 of 2004) had opted for settlement under section 10 of the Kerala Finance Act, 2020 (7 of 2020) during previous years, but failed to settle the arrears within the period specified under sub-section
4. (7) of section 10 of the Kerala Finance Act, 2020 (7 of 2020), the amount, if any, paid, after service of specified order, under the said section shall be deducted from the amount payable. The applicant shall, along with the application, furnish the proof of payments made in this regard: Provided also that, where an assessee who was in arrears of tax or any other amount due under the Kerala Value Added Tax Act, 2003 (30 of 2004) had opted for settlement under section 11 of the Kerala Finance Act, 2020 (7 of 2020) during previous years, but failed to settle the arrears within the period specified under sub-section
5. (5) of section 11 of the Kerala Finance Act, 2020 (7 of 2020), the amount, if any, paid under the said section, after service of specified order, shall be deducted from the amount payable. The applicant shall, along with the application, furnish the proof of payments made in this regard.
6. (3) Notwithstanding anything contained in the relevant Act, interest accrued at the time of payment of amount payable under this scheme, shall also stand waived.