Govt extends last date for Sabka Vishwas scheme till 15 January for settling disputes of service tax, central excise
5 years ago

Govt extends last date for Sabka Vishwas scheme till 15 January for settling disputes of service tax, central excise

Firstpost  

New Delhi: The Finance Ministry on Tuesday extended the ‘Sabka Vishwas Scheme’, a dispute resolution-cum-amnesty scheme for settling pending disputes of service tax and central excise, by 15 days till 15 January. Finance Minister Nirmala Sitharaman had unveiled the Sabka Vishwas Scheme, 2019, in the budget for 2019-20 with the objective of settling pending disputes of Service Tax and Central Excise. Live since 1 September, the Sabka Vishwas Scheme provides a one-time window to eligible persons to declare their tax dues and pay the same in accordance with the provisions. According to the ministry, a total Rs 3.6 lakh crore is locked up in 1.83 lakh cases at various quasi-judicial, appellate and judicial forums under Service Tax and Central Excise put together.

Tax Scheme Taxpayers Central Excise Service Tax Tax Dues Sabka Vishwas Scheme Sabka Vishwas 15 January Service Tax And Central Excise  govt  central  sabka  till  vishwas  tax  service  settling  scheme  extends  taxpayers  rs  ministry  excise  lakh

History of this topic

Income Tax extends Vivad Se Vishwas deadline to January 31. Key penalty details
1 week, 3 days ago

Income Tax extends Vivad Se Vishwas deadline to January 31. Key penalty details

India Today  

The Income Tax Department has extended the deadline for the Vivad Se Vishwas Scheme 2024, giving taxpayers a fresh opportunity to settle disputes at lower tax rates. KEY BENEFITS OF THE EXTENDED DEADLINE The Vivad Se Vishwas Scheme, announced in Budget 2024, allows taxpayers to settle pending disputes by paying a lower amount of disputed tax along with specified percentages. …

Vivad Se Vishwas Scheme 2024: I-T dept extends deadline to avail interest, penalty waiver till January 31
1 week, 3 days ago

Vivad Se Vishwas Scheme 2024: I-T dept extends deadline to avail interest, penalty waiver till January 31

Live Mint  

Vivad Se Vishwas Scheme 2024: The income tax department on Monday, December 30, extended the due date for determining the tax dues and filing declaration under the Vivad Se Vishwas scheme for waiver of interest and penalty, by a month, till January 31, 2025. According to the original rules of the Direct Tax Vivad Se Vishwas scheme, taxpayers filing declaration …

Vivad Se Vishwas Scheme 2024: Settle income tax disputes by December 31 to avoid penalties
2 weeks, 3 days ago

Vivad Se Vishwas Scheme 2024: Settle income tax disputes by December 31 to avoid penalties

Live Mint  

Vivad se Vishwas Scheme 2024: Taxpayers facing income tax disputes can choose to settle their tax disputes under the Vivad se Vishwas Scheme 2024. Any application made on or after 1st January 2025 will not be eligible for a lower tax amount under the Vivad Se Vishwas Scheme If taxpayers file a declaration before December 31, 2024, they must pay …

Vivad Se Vishwas Scheme 2024: Settle income tax disputes by December 31 to avoid penalties
2 weeks, 3 days ago

Vivad Se Vishwas Scheme 2024: Settle income tax disputes by December 31 to avoid penalties

Live Mint  

Vivad se Vishwas Scheme 2024: Taxpayers facing income tax disputes can choose to settle their tax disputes under the Vivad se Vishwas Scheme 2024. Any application made on or after 1st January 2025 will not be eligible for a lower tax amount under the Vivad Se Vishwas Scheme If taxpayers file a declaration before December 31, 2024, they must pay …

Vivad Se Vishwas Scheme 2024: What is it and how to avail it?
Trending News
2 weeks, 4 days ago

Vivad Se Vishwas Scheme 2024: What is it and how to avail it?

India Today  

The Vivad Se Vishwas Scheme 2024, introduced in Budget 2024, provides taxpayers with an opportunity to settle pending disputes with the Income Tax Department. By paying the disputed tax amount along with a specified percentage, taxpayers can resolve disputes and avoid penalties and interest. ELIGIBILITY FOR THE SCHEME Taxpayers eligible for this scheme include: Those with pending appeals, writ petitions, …

Vivad Se Vishwas Scheme 2024: Income tax department releases FAQs to address queries of taxpayers
3 weeks, 2 days ago

Vivad Se Vishwas Scheme 2024: Income tax department releases FAQs to address queries of taxpayers

Live Mint  

In order to bring early resolution of the disputes pending between taxpayers and the income tax department, the Ministry of Finance rolled out Vivad Se Vishwas Scheme 2024 in October this year. Here, we have reproduced some of the common doubts which the taxpayers have in relation to the dispute resolution scheme aka Direct Tax Vivad Se Vishwas Scheme 2024. …

Direct Tax Vivad Se Vishwas scheme, 2024 to come to force from 1 October
3 months, 2 weeks ago

Direct Tax Vivad Se Vishwas scheme, 2024 to come to force from 1 October

Live Mint  

New Delhi: The Union government on Friday said the second edition of the Direct Tax Vivad Se Vishwas Scheme 2024, which will help reduce litigation and bring certainty for taxpayers, will become operational from 1 October. {{^adFree}} {{/adFree}} "In exercise of the powers conferred by sub-section of section 88 of the Finance Act, 2024, the Central Government hereby appoints the …

Govt Launches Vivad se Vishwas II Scheme To Resolve Pending Contractual Disputes
1 year, 5 months ago

Govt Launches Vivad se Vishwas II Scheme To Resolve Pending Contractual Disputes

News 18  

In order to settle the pending contractual disputes of government and government undertakings, the finance ministry has launched the ‘Vivad se Vishwas II – ’ scheme, according to an official statement released on Wednesday. To be eligible for settlement under the scheme, the ministry has laid out two conditions — a) arbitral award passed on or before January 31, 2023, …

Taxpayers Filing Declaration Under SVLDR Scheme Can’t Quantify The Duty Under Indirect Taxes: Delhi High Court
1 year, 7 months ago

Taxpayers Filing Declaration Under SVLDR Scheme Can’t Quantify The Duty Under Indirect Taxes: Delhi High Court

Live Law  

The Delhi High Court has held that taxpayers filing declarations under the Sabka Vishwas Scheme Rules, 2019 cannot quantify the duty under indirect taxes.The bench of Justice Yashwant Varma and Justice Dharmesh Sharma has observed that in terms of Section 121 of the Finance Act, 2019, the word "quantified" means a written communication of the. The Delhi High Court has …

Rejection Of Application Under SVLDR Scheme Without A Hearing Is Violative Of Principles Of Natural Justice: Delhi High Court
1 year, 7 months ago

Rejection Of Application Under SVLDR Scheme Without A Hearing Is Violative Of Principles Of Natural Justice: Delhi High Court

Live Law  

The Delhi High Court has held that the summary rejection of the application under the Sabka Vishwas Scheme, 2019 without affording the opportunity to be heard would violate the principles of natural justice.The bench of Justice Vibhu Bakhru and Justice Amit Mahajan has observed that in terms of the SVLDR Scheme, the petitioner would be entitled to. The Delhi High …

Payment deadline under tax dispute scheme extended
3 years, 4 months ago

Payment deadline under tax dispute scheme extended

Hindustan Times  

The government has extended the last date for payment of amount under the direct tax amnesty scheme ‘Vivad se Vishwas’ without any additional charge by one month to September 30, 2021 due to technical reasons, the Central Board of Direct Taxes said in a statement on Saturday. The Vivad se Vishwas scheme provides for settlement of disputed tax, disputed interest, …

Vivad Se Vishwas Scheme Garners Rs 72,480 Crore Tax to Govt So Far
4 years, 1 month ago

Vivad Se Vishwas Scheme Garners Rs 72,480 Crore Tax to Govt So Far

News 18  

The government has garnered Rs 72,480 crore so far through the direct tax dispute resolution scheme Vivad Se Vishwas, sources said. The government had last month extended for the third time the deadline for making payment under the Vivad Se Vishwas scheme by three months to March 31, 2021 in view of the ongoing pandemic. The Direct Tax Vivad se …

Declarants Under Vivad Se Vishwas Scheme Have Time Till March 31 to Make Payment
4 years, 2 months ago

Declarants Under Vivad Se Vishwas Scheme Have Time Till March 31 to Make Payment

News 18  

The Income Tax Department on Wednesday said taxpayers making declarations under direct tax dispute resolution scheme 'Vivad Se Vishwas' will have time till March 31 to make payment. "It is hereby clarified that where a declarant files a declaration under Vivad se Vishwas on or before 31st December, 2020, the designated authority, while issuing the certificate under sub-section of section …

Vivad Se Vishwas Scheme Not Applicable Where Prosecution Has Started, Clarifies CBDT [Read Circular]
4 years, 8 months ago

Vivad Se Vishwas Scheme Not Applicable Where Prosecution Has Started, Clarifies CBDT [Read Circular]

Live Law  

The Central Board Direct Tax on Wednesday clarified that taxpayers will not be able to avail benefits under the Vivad se Vishwas scheme in cases where prosecution has been instituted.The CBDT, through a FAQ has, has clarified that, "where only notice for initiation of prosecution has been issued without prosecution being instituted, the assessee is eligible to file declaration. The …

What is Direct Tax Vivad se Vishwas Bill, 2020?
4 years, 9 months ago

What is Direct Tax Vivad se Vishwas Bill, 2020?

India Today  

The Direct Tax Vivad se Vishwas Bill, 2020 was introduced in Lok Sabha by the Minister of Finance, Ms. Nirmala Sitharaman, on February 5, 2020. Appellant: The Bill defines an appellant as the income tax authority, or the person, or both, whose appeal is pending before any appellate forum as on January 31, 2020. Resolution mechanism: The Bill proposes a …

‘Vivad Se Vishwas’ Direct Tax Scheme: Will Taxpayers Grab It?
4 years, 9 months ago

‘Vivad Se Vishwas’ Direct Tax Scheme: Will Taxpayers Grab It?

The Quint  

The Scheme will certainly have takers even though the time for the paperwork involved and payment of disputed tax is very limited. The Budget has stipulated that the Income Tax Appellate Tribunal – the second- tier appellate body – can stay the recovery of tax demand for the first 180 days, only if the taxpayer pays 20 percent of the …

Centre Notifies Direct Tax Vivad se Vishwas Act To Reduce Direct Tax Litigation [Read Act]
4 years, 9 months ago

Centre Notifies Direct Tax Vivad se Vishwas Act To Reduce Direct Tax Litigation [Read Act]

Live Law  

The Central government on Tuesday notified the Direct Tax Vivad se Vishwas Act, 2020, to reduce direct tax litigation. The Act, aimed to reduce tax litigation, was moved by Finance Minister Nirmala Sitharaman, to set up a mechanism for resolution of disputes related to income tax and corporation tax, pending before any appellate forum as on January 31, 2020. With …

Parliament passes Direct Tax Vivad Se Vishwas Bill
4 years, 9 months ago

Parliament passes Direct Tax Vivad Se Vishwas Bill

India TV News  

The parliament on Friday passed Direct Tax Vivad Se Vishwas Bill, 2020 with an aim to settle pending direct tax disputes in the country. The Bill, which will provide taxpayers a lucrative opportunity to settle direct tax disputes within the current financial year by waiving interest and penalty on their pending taxes, was passed by voice vote and returned by …

‘Vivad se Vishwas’ scheme: Cases in arbitration abroad eligible, says I-T dept
4 years, 10 months ago

‘Vivad se Vishwas’ scheme: Cases in arbitration abroad eligible, says I-T dept

The Hindu  

Income tax cases being arbitrated abroad will be eligible to be taken up under the proposed ‘Vivad se Vishwas’ scheme to settle disputes between the taxman and the taxpayer, the department said on Saturday. Other eligibilities are: Orders for which time for filing appeal has not expired on January 31; cases pending before dispute resolution panel or where the DRP …

90% of pending income tax cases will be settled under ‘Vivaad Se Vishwas’, says Minister
4 years, 10 months ago

90% of pending income tax cases will be settled under ‘Vivaad Se Vishwas’, says Minister

The Hindu  

The government expects to resolve 90% of the income tax disputes through ‘Vivaad se Vishwas’ scheme announced in the Budget for 2020-21, Union Minister Anurag Singh Thakur said on Tuesday. “We hope more than 90% pending income tax cases will be settled under ‘Vivaad Se Vishwas’,” Mr. Thakur said, while speaking at an employment fair organised by a local non-profit, …

Finance Minister introduces Direct Tax Vivad Se Vishwas Bill in Lok Sabha
4 years, 11 months ago

Finance Minister introduces Direct Tax Vivad Se Vishwas Bill in Lok Sabha

The Hindu  

Finance Minister Nirmala Sitharaman on Wednesday introduced a bill in the Lok Sabha to provide for a mechanism to settle disputed tax cases to the tune of ₹9.32 lakh crore. However, Congress leader in the Lok Sabha Adhir Ranjan Chowdhury objected to the Direct Tax Vivad Se Vishwas Bill, 2020, saying it violates parliamentary tradition by using Hindi and English …

Govt expected to receive over Rs 39,500 cr under Sabka Vishwas Scheme; realisation a big booster amid revenue shortfall concerns
4 years, 11 months ago

Govt expected to receive over Rs 39,500 cr under Sabka Vishwas Scheme; realisation a big booster amid revenue shortfall concerns

Firstpost  

The Sabka Vishwas Scheme, which became operational on 1 September 2019, provides a one-time window to eligible persons to declare their tax dues and pay the same in accordance with the provisions. New Delhi: The government is expected to realise Rs 39,500 crore from the Sabka Vishwas Scheme, a dispute resolution-cum-amnesty scheme for settling pending disputes of service tax and …

Negotiated settlement of tax disputes under government consideration
4 years, 11 months ago

Negotiated settlement of tax disputes under government consideration

Live Mint  

Settlement of disputes through negotiations between tax payers and the Income Tax department could become a reality soon if the government clears a proposal made last year by a task force that examined revamping the Income Tax Act. The seven-member task force led by former member of the Central Board of Direct Taxes Akhilesh Ranjan, in its report last year, …

Amnesty scheme for legacy service tax, excise duty cases to open on 1 September; to be operational for four months
5 years, 4 months ago

Amnesty scheme for legacy service tax, excise duty cases to open on 1 September; to be operational for four months

Firstpost  

More than Rs 3.75 lakh crore is blocked in service tax and excise litigations New Delhi: The finance ministry on Thursday said the dispute resolution and amnesty scheme to reduce legacy service tax and central excise cases will become operational for four months beginning 1 September. The scheme, announced by Finance Minister Nirmala Sitharaman in her Budget speech, is specially …

The ‘Sabka Saath, Sabka Vishwas’ budget: What is stored in it for you
5 years, 6 months ago

The ‘Sabka Saath, Sabka Vishwas’ budget: What is stored in it for you

Op India  

Yet another historic budget in the NDA’s era. Now, let’s look into the Budget 2019-20 and what’s in it for everyone: Middle Class: No income tax for less than 5 lakh per annum income. To discourage the practice of making business payments in cash, the Government proposed to levy TDS of 2% on cash withdrawal exceeding Rs 1 crore a …

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