(PTI)
The finance ministry is unlikely to extend the last date for ‘Sabka Vishwas Scheme’, a dispute resolution-cum-amnesty scheme for settling pending disputes of service tax and central excise, which is ending on December 31. Finance Minister Nirmala Sitharaman had unveiled the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019, with the objective of settling pending disputes of Service Tax and Central Excise in the Budget.
Live since September 1, the Sabka Vishwas Scheme provides a one-time window to eligible persons to declare their tax dues and pay the same in accordance with the provisions. If anyone is interested to utilise the benefits of the Sabka Vishwas Scheme 2019, he or she must apply by December 31 as the last date will not be extended further, a senior finance ministry official said. So far, the scheme has attracted substantial attention and positive response, official said adding that 55,693 applications have been received with tax dispute amounting to Rs 29,557.3 crore as on date. While launching the scheme, it was seen that a total Rs 3.6 lakh crore is locked up in 1.83 lakh cases at various quasi-judicial, appellate and judicial forums under Service Tax and Central Excise put together.
