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Study of Sabka Vishwas (Legacy Dispute Resolution) Scheme 2019

Sabka Vishwas (Legacy Dispute Resolution) Scheme 2019 It shall come into force w.e.f a date to be notified Sabka Vishwas (Legacy Dispute Resolution) Scheme 2019 is a Dispute Resolution cum Amnesty Scheme for legacy cases of Central Excise, Service Tax and Cess. It covers past disputes of taxes which have got subsumed in GST namely [&helli...

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Posted Under: Excise Duty |

FAQs: Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019

Who is eligible to file declaration under SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019? Any person falling under the following categories is eligible, subject to other conditions under the Scheme, to file a declaration:...

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Posted Under: Excise Duty |

Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019: Mystery or Resolution?

A. Preface 1. Our Finance Minister, Shrimati Nirmala Sitharaman, in her budget speech mentioned that more than Rs. 3.75 lakh croreis blocked in pending litigations from the Pre-GST Regime i.e., in Service Tax And Excise. In view of such huge funds being blocked, she proposed a “Legacy Dispute Resolution Scheme” (The Scheme) that would...

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Posted Under: Excise Duty |

What is Sabka Vishwas (Legacy Dispute Resolution) Scheme?

A very unique and substantial relief scheme named as SABKA VISHWAS LEGACY DISPUTE RESOLUTION SCHEME has been proposed. The focus of the government will be to reduce the pending litigations of 28 plus pre-GST laws, the government has proposed a Dispute Settlement Scheme for speedy settlement of pending litigations and to remove the funds b...

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Posted Under: Excise Duty |

Issues in Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019

There are many issues in this proposed Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019. Hope such issues get addressed favorably in the Rules and other clarifications to be issued in this regard....

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Posted Under: Excise Duty |

Budget 2019: Exhaustive analysis of amendments in Excise Duty Law

Article explains Union Budget 2019 Proposals Involving Changes in Export Duty Rates, Proposals Involving Change in Excise Duty Rate Though Notifications, Effective change in rate of Special Additional Excise Duty and Road and Infrastructure Cess on Petrol and Diesel, Amendments In Fourth Schedule To Central Excise Act, 1944, Amendment in ...

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Posted Under: Excise Duty |

Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019: Eligibility & Tax payable

Article explains Eligibility for Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 (LDRS) and amount of Tax, Interest and Penalty payable. Sl. No Situation 1 Situation 2 (to be read with Situation 1) Eligible for LDRS (Yes or No) Category % of Amount of Duty payable (See Note1 below the table) Relevant clause (s) in Finance […...

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Posted Under: Excise Duty |

Sabka Vishwas (Legacy Dispute Resolution) Scheme-2019: 13 FAQs

It is raining discounts not just on consumer goods but also on taxes. The Finance Minister on 05th July, 2019 in her maiden budget introduced Sabka Vishwas (Legacy Dispute Resolution) Scheme 2019 in order to curb the pending litigations under the erstwhile Indirect Tax Enactments. The scheme provides relief from tax, penalty, interest, im...

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Posted Under: Excise Duty |

Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019: Applicability & Process

Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 Before the introduction of GST India was a curious mix of taxation laws, some aligned to global standards, and some not. Traditionally having had a reputation of a difficult tax regime, efforts are being taken to showcase India’s progress in improved ranking in Ease of Doing Busines...

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Posted Under: Excise Duty |

Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019: Analysis

SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019 (Chapter V of the Finance Bill, 2019) Our Finance Minister placed the finance budget on 5th of July 2019, which was the 1st Finance budget of this new Government. In this, she introduced a new amnesty scheme in the name of ‘Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019...

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Posted Under: Excise Duty |