States » SouthPosted at: Jun 19 2025 9:02AM


'Amnesty' rare opportunity for traders in Kerala: FM KN Balagopal

Thiruvananthapuram, June 19 (UNI) The Amnesty scheme is a rare opportunity for traders in Kerala, as they can utilise the scheme for a one-time settlement of their tax arrears, State Finance Minister K.N. Balagopal said.
The minister reminded the traders that the government had offered various incentives for them to settle the tax arrears with attractive concessions and that the last date for clearing the dues under the Amnesty Scheme is June 30.
After the introduction of GST, the entire country got the same tax structure, and as part of this, systems, laws, and software were brought in for the taxes to be paid promptly, he said.
The government considered the traders as an important component of the state and country who contribute substantially to the revenue, he added.
He also revealed that Kerala had requested the GST Council to take a strong stand on online trading.
After the implementation of the amnesty scheme in 2024, all arrears below Rs 50,000 were waived off, which was a great relief to small traders, he added.
Noting that government institutions were providing financial aid to the trade sector, Balagopal said through Kerala State Financial Enterprises (KSFE) alone, various incentives worth Rs 475 crore were given to traders last year.
Holding that the government would provide all supports to the growth of the trading sector, Balagopal reminded the traders to be prepared to face the challenges in case there was a tariff war.
The minister also interacted with the stakeholders from the trading sector who attended the seminar and replied to their queries regarding various schemes.
He said this while addressing a seminar on the Amnesty Scheme announced in the state budget for 2025-26 and the welfare schemes for traders here. The seminar was organised by the Kerala Goods and Services Tax Department, in association with the Traders Welfare Board.
K R Jyothilal, IAS, Additional Chief Secretary, Taxes, presided over the function, and Ajit Patil, IAS, Commissioner, State GST Department, welcomed the gathering.
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Tags: #'Amnesty' rare opportunity for traders in Kerala: FM KN Balagopal
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