Budget 2019

Highlight & Procedure for Sabka Vishwas Legacy Dispute Resolution Scheme, 2019

Excise Duty - SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019 Government has announced the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 as a part of the recent Union Budget Further, in accordance with the Finance (No 2) Act, 2019, the Central Government has notified the Sabka Vishwas (Legacy Dispute Resolution) Scheme Rules, 2019 as we...

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Eligibility in Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 [SVLDRS, 2019]

Excise Duty - ELIGIBILITY/INELIGIBILITY UNDER SVLDRS, 2019 Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019  CATEGORY OF APPLICATION > Litigation  i. SCN involving Duty along with Interest/ Late fee/ penalty (if any) – 124(1)(a)  Case I SCN Received before 30 June 2019; Final Hearing has not taken place as on 30 June 2019 ELIGIBLE.  ...

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Sabka Vishwas Legacy Dispute Resolution scheme- A Summary

Excise Duty - The Sabka Vishwas Legacy Dispute Resolution Scheme announced by the Union government in its 2019-20 Budget will be operational from 1st September 2019 till 31st December 2019. The scheme particularly focuses in closing all their pending disputes relating to legacy issues in service tax, central excise & several cesses which are now su...

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SVLDRS, 2019- Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019

Excise Duty - Taxes paid under following Acts are covered by Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 Central Excise, Service Tax Other Indirect tax enactments namely The Agricultural Produce Cess Act,1940 The Coffee Act, 1942 The Mica Mines Labour Welfare Fund Act, 1946 The Rubber Act, 1947 The Salt Cess Act, 1953 The Medicinal and Toile...

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Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019- Comprehensive Analysis

Excise Duty - SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019 is a bold endeavor to unload the baggage relating to the legacy taxes viz. Central Excise and Service Tax that have been subsumed under GST and to allow business to make a new beginning. It may be appreciated that the ambit of the scheme is wide enough to cover all kinds of pending d...

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Sabka Vishwas – Legacy Dispute Resolution Scheme notified ; to be operationalized from 1st September 2019

Excise Duty - Sabka Vishwas – Legacy Dispute Resolution Scheme notified ; to be operationalized from 1st September 2019 Government expects Scheme to be availed by large number of taxpayers for closing their pending disputes relating to legacy Service Tax and Central Excise cases. In the Union Budget 2019-20, the Hon’ble Finance Minister announc...

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7 Post Budget 2019 Suggestions by ICAI

Excise Duty - DIRECT TAXES THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA NEW DELHI POST-BUDGET MEMORANDUM – 2019 A. INTRODUCTION 1.0 The Council of the Institute of Chartered Accountants of India considers it a privilege to submit this Post-Budget Memorandum to the Government. 1.1 In this memorandum, we have suggested certain amendments to the prop...

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Amendments proposed in Finance (No. 2) Bill, 2019

Excise Duty - List No. 3′ LOK SABHA ——– FINANCE (NO.2) BILL, 2019 [As introduced in Lok Sabha] Notice of Amendments S.No Name of Member and text of Amendment Clause No. SMT. NIRMALA SITHARAMAN: 7 Page 6, for lines 47 to 49, substitute.- “(viii) income arising outside . India, being any sum of money referred to in sub-clau...

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Tax Deducted at Source under Section 194M of Income Tax Act, 1961

Excise Duty - As the Announcement under UNION BUDGET 2019 had proposed a new section 194 M of the Income Tax Act,1961, which requires an Individual or an HUF, to deduct TDS @5%, where they make payment which exceeds Rs. 50 lakh in a year to a contractor or to a professional. Any Person Other than Those who […]...

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Pollution Free Environment announced in Union Budget 2019

Excise Duty - In Union Budget 2019, finance minister, Nirmala Sitharaman announced the major solution to our environment is to making our country more economy efficient as well as environmental efficient too, “Aiming to becoming a global hub for electric vehicle manufacturing, the government has already moved GST council to lower the GST rate on...

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Circular on Sabka Vishwas (Legacy Dispute Resolution) Scheme Rules, 2019

Circular No. 1071/4/2019-CX.8 - (27/08/2019) - Circular No. 1071/4/2019-CX.8 F. No. 267/78/2019/CX-8-Pt.III Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs Dated, the 27th August, 2019 To The Principal Chief Commissioners/ Chief Commissioners (All) The Principal Director Generals/ Direct...

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Govt notifies Part I, IV, VI & VII of Chapter VI of Finance Act, 2019

S.O. 2899(E), S.O. 2900(E), S.O. 2901(E), S.O. 2902(E) - (09/08/2019) - Government hereby appoints the 9th day of August, 2019, as the date on which the provisions of Part I, IV, VI & VII of Chapter VI of the Finance (No. 2) Act, 2019 (23 of 2019), shall come into force. PUBLISHED BY AUTHORITY MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New D...

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President Assents Finance (No. 2) Act, 2019

THE FINANCE (NO. 2) ACT, 2019 NO. 23 OF 2019 - (01/08/2019) - THE FINANCE (NO. 2) ACT, 2019 - NO. 23 OF 2019 received the assent of the President on the 1st August, 2019, and is hereby published for general information:—...

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Download Finance (No. 2) Bill, 2019 as passed by Lok Sabha

Bill No. 55-C of 2019 - (18/07/2019) - Lob Sabha has passed Union Budget 2019 i.e. The Finance (No. 2) Bill, 2019  on 18th July 2019 with Various amendment in some of the sections and also inserted few new provisions. Full text of the same is as follows:- AS PASSED BY LOK SABHA ON 18.7.2019 Bill No. 55-C of 2019 THE FINANCE (NO. [&helli...

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CBIC reduces export duty on EI tanned leather & Hides, skins & leathers, tanned & untanned

Notification No. 27/2019-Customs [G.S.R.484 (E).] - (06/07/2019) - Seeks to further amend notification No 27/2011- Customs dated 1st March 2011 to reduce the export duty on EI tanned leather and Hides, skins and leathers, tanned and untanned, all sorts vide Notification No. 27/2019-Customs Dated: 6th July, 2019. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT O...

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Recent Posts in "Budget 2019"

Highlight & Procedure for Sabka Vishwas Legacy Dispute Resolution Scheme, 2019

SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019 Government has announced the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 as a part of the recent Union Budget Further, in accordance with the Finance (No 2) Act, 2019, the Central Government has notified the Sabka Vishwas (Legacy Dispute Resolution) Scheme Rules, 2019 as we...

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Posted Under: Income Tax |

Eligibility in Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 [SVLDRS, 2019]

ELIGIBILITY/INELIGIBILITY UNDER SVLDRS, 2019 Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019  CATEGORY OF APPLICATION > Litigation  i. SCN involving Duty along with Interest/ Late fee/ penalty (if any) – 124(1)(a)  Case I SCN Received before 30 June 2019; Final Hearing has not taken place as on 30 June 2019 ELIGIBLE.  ...

Read More
Posted Under: Income Tax |

Sabka Vishwas Legacy Dispute Resolution scheme- A Summary

The Sabka Vishwas Legacy Dispute Resolution Scheme announced by the Union government in its 2019-20 Budget will be operational from 1st September 2019 till 31st December 2019. The scheme particularly focuses in closing all their pending disputes relating to legacy issues in service tax, central excise & several cesses which are now su...

Read More
Posted Under: Income Tax |

SVLDRS, 2019- Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019

Taxes paid under following Acts are covered by Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 Central Excise, Service Tax Other Indirect tax enactments namely The Agricultural Produce Cess Act,1940 The Coffee Act, 1942 The Mica Mines Labour Welfare Fund Act, 1946 The Rubber Act, 1947 The Salt Cess Act, 1953 The Medicinal and Toile...

Read More
Posted Under: Income Tax |

Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019- Comprehensive Analysis

SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019 is a bold endeavor to unload the baggage relating to the legacy taxes viz. Central Excise and Service Tax that have been subsumed under GST and to allow business to make a new beginning. It may be appreciated that the ambit of the scheme is wide enough to cover all kinds of pending d...

Read More
Posted Under: Income Tax |

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: Income Tax |

PPT on Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019

Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019  as introduced vide THE FINANCE (NO.2) ACT, 2019 wef 1-9-2019 Objectives ♦ One time measure for liquidation of past disputes of central excise and service tax ♦ To provide an opportunity of voluntary disclosure to,non-compliant taxpayers. Cases covered under the Scheme… √A s...

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Posted Under: Income Tax |

Note on Sabka Vikas (Legacy Dispute Resolution) Scheme, 2019

Note on Sabka Vikas (Legacy Dispute Resolution) Scheme, 2019 and Rules thereon Update Source : Notification No. 04/2019 Central Excise-NT and Notification No. 05/2019 Central Excise-NT , Central govt. has notified Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 and Sabka Vishwas (Legacy Dispute Resolution) Scheme Rules, 2019 Sabka ...

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Posted Under: Income Tax |

Sabka Vishwas (Legacy Dispute Resolution) Schemes 2019

Hon Finance Minister Smt. Nirmala Sitharaman had announced SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019 for unblocking Rs. 3.85 Lacs Cr in pending litigation relating to Excise & Service Tax etc. at various levels from SCN stage to adjudication pending upto Supreme Court. Date has been notified for start of the scheme and ru...

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Posted Under: Income Tax |

Circular on Sabka Vishwas (Legacy Dispute Resolution) Scheme Rules, 2019

Circular No. 1071/4/2019-CX.8 (27/08/2019)

Circular No. 1071/4/2019-CX.8 F. No. 267/78/2019/CX-8-Pt.III Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs Dated, the 27th August, 2019 To The Principal Chief Commissioners/ Chief Commissioners (All) The Principal Director Generals/ Director Generals (All) Dear Madam/Sir, I am d...

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