Ministry of Finance

CBIC reaches out to BSE members on SABKA VISHWAS Scheme

Legacy Dispute Resolution Scheme is open till 31st December 2019

Posted On: 23 DEC 2019

Directorate General of Taxpayer Services, Mumbai Zonal Unit, Central Board of Indirect Taxes and Customs organized a Symposium on SABKA VISHWAS (Legacy Dispute Resolution) Scheme, (SVLDRS) 2019 on 23rd December, 2019 at 4.00 pm to 5.00 pm at BSE Auditorium, 1st Floor, BSE, Fort, Mumbai, for the members of Bombay Stock Exchange.

The said Symposium was held to explain to the participants about SVLDRS Scheme, 2019 along with the eligibility, benefits and procedural aspects of the Scheme. This Scheme is a one time measure for liquidation of past disputes relating to Central Excise and Services Tax matters.

Legacy Dispute Resolution Scheme is open till 31st December 2019

The benefits include total waiver of interest, penalty and fine; immunity from prosecution; and relief in duty demand ranging from 40% to 70% with a provision for adjustment of any deposit of duty already made.  In case of voluntary disclosure, only payment of full amount of disclosed duty is required to be made without any interest or penalty.  June 30, 2019 is taken as cut-off date with respect to all pending cases. SVLDRS Scheme is open till December 31, 2019.  The Commissioner, CGST, Mumbai South and DG Systems too attended the Symposium.

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