Indirect Tax

1. Sabka Vishwas Scheme

  • Recently, the Sabka Vishwas-Legacy Dispute Resolution Scheme, 2019 was notified.
  • It was announced with the objective of settling pending disputes of Service Tax and Central Excise, which are now subsumed under GST.
  • The two main components of the Scheme are dispute resolution and amnesty –
    • The dispute resolution component is aimed at liquidating the legacy cases of Central Excise and Service Tax that are subsumed in GST and are pending inlitigation at various forums.
    • The amnesty component offers an opportunity to the taxpayers to pay the outstanding tax and be free of any other consequences under the law.

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