The ‘Vivadon ka Samadhan’ scheme offers a waiver/exemption from the levy of Milk Cess for the period from September 9, 2001 to July 9, 2002, as no rules were framed to collect the Milk Cess during this period. Instead of the compounded interest rate of 2% per month, the scheme proposes a levy of 8% simple interest per annum on the default amount for the period of default, which is a major relief to milk plants.
Under the payment terms, 50% of the recalculated default amount must be paid on or before September 30, 2024, and the remaining balance must be settled by November 30, 2024. This scheme aims at providing relief to 29 milk plants and aims at resolving a long standing request of the milk plants. It will further encourage investment in the milk sector infrastructure.