Q 1. What are the basic objective of Settlement Commission?
Ans. The basic objectives of setting up of the Settlement Commission are:-
i. to provide an alternate channel for dispute resolution for the taxpayer;
ii. to expedite payment of GST involved in disputes by avoiding costly and time consuming litigation process;
iii. to provide an opportunity to tax payers to come clean who may have evaded payment of tax;
iv. to serve as a forum for the taxpayer to apply for settlement of their cases, on the basis of true and complete disclosure of their tax liability;
v. to encourage quick settlement of disputes and save the business from the worries of prosecution in certain situations.
