Vivad Se Vishwas Scheme ।।

The Union Budget has proposed “Vivad Se Vishwas’ Scheme (No dispute but trust) which aims at reducing litigations in the direct taxes payments.

Taxpayers in whose cases appeals are pending at any level can benefit from this scheme

Under the proposed „Vivad Se Vishwas’ scheme,  taxpayer would be required to pay only the amount of the disputed taxes and will get complete waiver of interest and penalty provided he pays by 31st March, 2020. 

Those who avail this scheme after 31st March, 2020 will have to pay some additional amount. The scheme will remain open till 30th June, 2020.

Need of such scheme

There are 4,83,000 direct tax cases pending in various appellate forums i.e. Commissioner (Appeals), ITATs, High Courts and the Supreme Court

Last year’s performance 

In last budget Sabka Vishwas Scheme was brought in to reduce litigation in indirect taxes. It resulted in settling over 1,89,000 cases.

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