The Karnataka State Government extended the time for completion of Assessments and Reassessments or Rectification to avail benefits under Karasamadhana Scheme, 2021. The Chief Minister and Finance Minister in his Budget Speech for the year 2021-22 made on 8 March 2021 had announced that a Karasamadhara Scheme will be introduced with a view to reduce the arrears arising out of the enactments administered by the Commercial Tax Department which existed before the introduction of Goods and Services Tax Act. The Scheme for waiver of penalty and interest was formulated and issued.
Source Taxscan
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