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The Kerala Finance Act, 2024, is a legislative measure enacted to modify various state tax laws and introduce a one-time settlement scheme for tax arrears. It amends the Kerala Stamp Act, the Kerala Court Fees and Suits Valuation Act, the Kerala Electricity Duty Act, and the Kerala Motor Vehicles Taxation Act to adjust tax rates and fee structures. Additionally, it establishes the "Amnesty Scheme, 2024," allowing taxpayers to settle outstanding tax, surcharge, interest, or penalty arrears from assessment years up to 2017-2018 at reduced rates. This Act aims to streamline revenue collection, reduce litigation, and provide relief to taxpayers burdened by long-standing tax disputes.
Official Legislative Text
Educational Study Layer
Chronological legislative evolution of The Kerala Finance Act, 2024 across statutory gazettes and amending Acts.