Sabka Vishwas Scheme: Modi govt pushes legacy dispute resolution scheme as deadline comes close

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The Modi government’s legacy dispute resolution scheme to settle the pending cases of excise duty and service tax is expected to take off in the next two months. The Sabka Vishwas Legacy Dispute Resolution Scheme, 2019 notified by the CBIC on September 1 to resolve the tax disputes involving a sum of around Rs 4 lakh crore. The scheme is one of the most comprehensive schemes as taxpayers involved in litigation with the department can take back the cases before the final order and interest and penalty will be fully waived off.

However, two months after the implementation of the scheme, concerned over the slow pace of implementation of the scheme, the Central Board of Excise and Customs (CBIC) wrote to all the principal chief commissioners and chief commissioners of central taxes to personally monitor the scheme. An early resolution was considered important to encourage more taxpayers to come forward and declare as only two months have been left.

“As you are aware, except for the voluntary disclosures, the information regarding eligible taxpayers is readily available with the field formations. As seen the total number of cases eligible under the scheme, as reported by zones is 1.8 lakh and the actual number would be even far less,” said Sandeep M Bhatnagar, member CBIC said in a letter to the top officers at the field level.

Read More at: https://www.financialexpress.com/economy/sabka-vishwas-scheme-2019-faq-pdf-notification-login-modi-govt-pushes-legacy-dispute-resolution-scheme-as-deadline-comes-close/1754290/