Setting up of Large Taxpayer Unit at Bangalore - Reg.

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.... announced the proposal to set up Large Taxpayer Units (LTUs) which would act as a single window facilitation center for all large entities paying Central Excise duty, Corporate Tax/Income Tax and Service Tax. The proposal has since been worked upon in the Government and consequent to wide ranging discussions held with trade and industry bodies/associations, it has been decided to establish LTUs i....

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....c. The scheme aims at reducing tax compliance cost and delays, and bringing out uniformity in the matters of tax/duty determination. An eligible taxpayer can opt to avail of the facility of LTU scheme. 3. Following is the criteria to opt for LTU : Every taxpayer (single PAN-based entity) · who is presently assessed to income tax/corporation tax under the Income-tax Act, 1961 in any of the f....