SABKA VISHWAS (LEGACY DISTRIBUTION SCHEME) 2019

SABKA VISHWAS (LEGACY DISTRIBUTION SCHEME) 2019

Context: The details of total number of settlements done under the Sabka Vishwas (Legacy Dispute Resolution Scheme, 2019) as on dated 05.02.2020 was provided by Union Minister of State for Finance & Corporate Affairs, Shri Anurag Singh Thakur in a written reply to  a question in Lok Sabha.

SABKA VISHWAS (LEGACY DISTRIBUTION SCHEME) 2019

The total number of settlements done under the Sabka Vishwas (Legacy Dispute Resolution Scheme, 2019) as on dated 05.02.2020 are 49,534 and amount involved in these cases is 24,970 crores. ABOUT SABKA VISHWAS (LEGACY DISTRIBUTION SCHEME) 2019

The Sabka Vishwas Scheme, 2019 is a scheme proposed in the Union Budget, 2019, and introduced to resolve all disputes which are related to the erstwhile Service Tax and Central Excise Acts, which are now subsumed under GST, as well as 26 other Indirect Tax enactments (as listed below). The scheme will be for taxpayers who wish to close their pending disputes, with a substantial relief provided by the government. The scheme had been notified by the CBIC to come into force on the 1st of September, 2019, and shall be operational until the 31st of December, 2019. WHAT WERE THE CASES COVERED UNDER THE SCHEME? The following cases are covered under the Sabka Vishwas Scheme, 2019:

  • A show cause notice or appeals arising out of a show cause notice pending as on the 30th day of June, 2019
  • An amount in arrears
  • An enquiry, investigation or audit where the amount is quantified on or before the 30th day of June, 2019
  • A voluntary disclosure

However, there will be certain cases excluded under this scheme-

  • Cases in respect of excisable goods set forth in the Fourth Schedule to the Central Excise Act, 1944 (this includes tobacco and specified petroleum products
  • Cases for which the taxpayer has been convicted under the Central Excise Act, 1944 or the Finance Act, 1944 
  • Cases involving erroneous refunds 
  • Cases pending before the Settlement Commission

WHAT WERE THE BENEFITS OFFERED BY THE SCHEME? This scheme offered several lucrative resolution benefits to taxpayers, such as:

  • Taxpayers can pay the outstanding tax amounts due and be free from any other consequences under the Law. 
  • Taxpayers will get substantial relief in the form of full waivers of interest, penalties and fines. 
  • There will be complete amnesty from prosecution proceedings.

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