The Government of Karnataka on October 05, 2023, notified Karasamadhana Scheme-V.
1. Under the Karasamadhana Scheme-V, a defaulter who is in arrears of payment of excise dues pertaining to a period prior to June 30, 2007, and comes forward to pay the entire principal amount pertaining to an individual case of default in the concerned district so due as reflected in the books of account of the Excise Department shall be eligible for a waiver of up-to-date interest pertaining to the principal payable under Rule 15 of the Karnataka Excise (General Conditions of Licences) Rules 1967.
2. A defaulter for the purpose of this Scheme means an individual a company/group of companies, a firm/firms, or a trust which has Excise arrears outstanding as of the date of introduction of this Scheme.
3. The Scheme shall also apply to those who do not have arrears towards the principal amount in an individual capacity but who might as a partner/trustee/director of the firm/trust/company have incurred liability. Such persons, if they pay or have paid the portion of their liability; in such firm/trust/company, as established in the deed such cases will also be eligible to apply under this Scheme.
The application is attached to the document.
This Notification shall be in force from October 05, 2023, to January 02, 2024.
No application and checklist seeking waiver of interest shall be received after January 02, 2024.
[Notification No. FD 03 PES 2023]
