The four-month long scheme has been designed on the lines of amnesty schemes declared by Union Governments in the past for defaulters of Central Excise and Custom Duties. The scheme is open to both registered and non-registered businesses.

Those who have been assessed in excess in any particular case till March 31, 1998, the tax assessee will be liable to pay only 50 per cent of the amount. Also, he is liable to pay only 10 per cent of the interest and fine levied. However, the interest and fine waiver will apply only if the amnesty scheme is availed of in the first two months.

In the latter two months, the assessee will have to pay 60 per cent of the assessed amount and 20 per cent of the interest and fine. However, the scheme will not offerany refund of any tax amount (over-assessed) paid before June 1, 1999. Also, defaulters will have to withdraw all previous appeals in order to avail of the amnesty scheme.

Rane has urged the State businessmen to extract maximum benefits offered by the scheme.