SABKA VISHWAS SCHEME, 2019- To give service tax and excise duty relief

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Objective of Sabka Vishwas Scheme:

Sabka Vishwas Scheme provides relief from Service tax and excise duty dues

The duration of Sabka Vishwas Scheme will be operational from September 1 and continues till December 31, 2019.

This settlement scheme has been introduced by the government with an intention to reduce the pending litigation and covers disputes under Central Excise, Service Tax and specified Cesses including Education Cess, Krishi Kalyan Cess and Swachh Bharat Cess etc.

Proposed Relief From Sabka Vishwas Scheme 2019

SITUATIONEXTENT OF RELIEF IF TAX DUES < Rs.50 Lakhs EXTENT OF RELIEF IF TAX DUES >Rs.50 Lakhs
Tax dues relatable to SCN or appeals arising out of such SCN70 % of tax dues50 % of tax dues
Tax dues relatable to SCN for late fee or penalty only (Where tax has been paid)Waiver of 100 % of late fee or penalty Waiver of 100 % of late fee or penalty
Tax dues are relatable to duty recoverable as arrears (matters have attained finality) 60 % of tax dues 40 % of tax dues
Tax dues linked to an inquiry, investigation or audit and amount quantified 70 % of tax dues 50 % of tax dues
Tax dues payable on account of voluntary disclosureNo reliefNo relief
Interest and Penalty100%100%

Features of Sabka Vishwas Scheme 2019

Following are the cases where Sabka Vishwas Scheme is not applicable:
A) Where show cause notice (SCN) or appeal has been heard finally on or before 30th June 2019
B) Person who has been convicted for any offence for the said matter
C) Where SCN has been issued for an erroneous refund

D) In cases where inquiry, investigation or audit where amount of duty has not been quantified on or before 30 June 2019 or voluntary disclosure made after such audit/investigation
E) In the case of taxpayers who have already declared tax in their return
F) In case where the matter is already pending before settlement commission and
G) Person seeking to make declarations with respect to petroleum and tobacco products

This amount has to be paid within 30 days of determination

Questions and Answers

Source: cbic.gov.in ( Link to download: http://cbic.gov.in/resources//htdocs-servicetax/FAQs30.10.2019svldrs.pdf )

http://cbic.gov.in/resources//htdocs-servicetax/FAQs30.10.2019svldrs.pdf

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