The Government has extended the last date to opt for Sabka Vishwas- (Legacy Dispute Resolution) Scheme, 2019 from 31st December 2019 till 15th January, 2020.
The Highlights of the said scheme are as under:
The Scheme covers disputes prevailing under Central Excise Act, 1944 and Service Tax.
Cases covered under the scheme
- A show Cause Notice or Appeals arising out of a show cause notice pending as on the 30th June 2019
- An amount in arrears
- An enquiry, investigation or audit where the amount is quantified on or before the 30th June 2019
- A voluntary disclosure
Benefits under the Scheme
- Total waiver of interest, penalty and fine
- Immunity from prosecution
- Cases pending in adjudication or appeal, a relief of 70% from the duty demand if it is Rs.50 lakhs or less and 50% if it is more than 50 Lakh
- The same relief for cases under investigation and audit where the duty involved is quantified on or before 30 June 2019
- In case of an amount in arrears, the relief offered is 60% of the confirmed duty amount if the same is Rs.50 Lakh or less and it is 40% in other cases
- In case of voluntary disclosure, the declarant will have to pay full amount of disclosed duty
- Scheme covers disputes prevailing under Central Excise Act, 1944 and Service Tax