Section 5(1) in Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Act, 2019
(1)Notwithstanding anything contained in the Relevant Act or under this Act, -(a)any payment made in respect of the statutory order either in the appeal or otherwise, on or before the 31st March 2019, shall first be adjusted towards the amount of tax in the ratio of undisputed tax and disputed tax and thereafter towards the interest and the balance amount remaining unadjusted, shall then be adjusted towards the penalty and the late fee, sequentially;(b)after adjustment of amount as specified in clause (a), the amount remaining outstanding, if any, as on the 1st April 2019, shall only be considered for the settlement and the requisite amount payable towards the settlement of aforesaid outstanding amount and the waiver, therefor, shall be as determined in accordance with Annexure-A or Annexure-B :Provided that, the ratio for adjustment under clause (a) shall be derermined by the designated authority.
