In the Union Budget 2019-20, the Hon’ble Finance Minister announced the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 (“SVLDRS, 2019” or “the Scheme”) to close the pending legacy disputes of Service Tax and Excise. The Scheme had been notified and is in operation from September 1, 2019, which would continue till December 31, 2019. Off late, the CBIC examined the various issues being faced by the trade in respect of the Scheme and hence, vide issued a clarification vide Circular No. 1072/05/2019-CX dated September 25, 2019 in the context of the various provisions of the Finance (No.2) Act, 2019 and Rules made thereunder.
Some of the key clarifications are as under:
Selecting incorrect category of eligibility being an ineligible person, would render such declarations as void;
In case of amount in arrears, relief will be applied to the net outstanding amounts after deducting pre-deposits;
Separate declaration required for each return in case of amount in arrears;
SCN pertaining to demand of interest only is covered under the Scheme;
Designated Committee to take view on cases where only documents are called upon by the department, etc.
Release of UPDATED E-Book on Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 by Mr. Bimal Jain
In the above backdrop and various clarifications issued till date in respect of SVLDRS, 2019 having shelf life of 4 months, Mr. Bimal Jain, Executive Director, A2Z Taxcorp LLP, has updated his E-Book on the Scheme titled ‘E-Handbook on Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019’ – Updated as on October 9, 2019.
Link to download updated E-Book:
You can access the updated E-Book at: http://www.a2ztaxcorp.com/wp-content/uploads/2019/10/Updated-E-Book-on-SVLDRS-2019_BJ-IB_09102019-4.pdf
Video by Mr. Bimal Jain:
You can access the complete video on “Overview & Analysis of Sabka Vishwas Legacy Dispute Resolution Scheme 2019” at following link:
Trust you will find the E-Book very helpful. We would be pleased to have constructive feedback of our readers.
Happy Reading !!