RSM India

Extension of last date for Sabka Vishwas Scheme

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

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