June 30 is last date for payment of dues under Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019: CBIC

The Central Board of Indirect Taxes and Customs (CBIC) said that June 30, 2020, is the last date for payment of dues under Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019.

CBIC informed that 1.90 lakh declarations amounting to Rs 90,000 crore were filled under the scheme and discharge certificates have been issued to one lakh 15,000 eligible declarants.

CBIC in its notification has said that benefits of the scheme will not be available if dues are not paid by June 30, 2020.

The main objective of the scheme is to free a large number of small taxpayers of their pending disputes with the tax administration.

Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019

Sabka Vishwas (Legacy Dispute Resolution) Scheme is an ambitious scheme made available for the pre-GST taxpayers to resolve the tax disputes. It was proposed in the Union Budget 2019 and introduced to resolve all disputes related to the erstwhile Service Tax and Central Excise Acts, which are now subsumed under GST, as well as 26 other Indirect Tax enactments. The scheme was provided to the taxpayers who wanted to close their pending disputes, with a substantial relief provided by the government.