Finance : Secondary SGB buyers must now pay 12.5% LTCG tax, unlike primary holders. The change reshapes returns and investment strategies in...
Income Tax : Establishes that higher tax burdens on promoters under the new regime require companies to reassess payout strategies. The takeawa...
Finance : The Supreme Court has allowed taxpayers to challenge retrospective amendments validating JAO reassessment actions. It stayed ongoi...
Income Tax : The issue arose from taxing buybacks as dividends, causing higher tax burden and unusable capital losses. The reform restores capi...
Income Tax : The Supreme Court has admitted a case to resolve conflicting interpretations of due dates for PF/ESI contributions. The ruling wil...
Income Tax : The amendments focus on reassessment timelines, electronic communication, and procedural clarity. The changes aim to reduce litiga...
Income Tax : The Government introduced reforms to simplify tax dispute resolution, including broader immunity provisions and expanded scope for...
Income Tax : A focused session breaks down recent Budget amendments affecting NRI taxation. It highlights how changes impact income, investment...
CA, CS, CMA : Budget 2026 prioritises easing compliance, reducing penalties, and cutting litigation rather than raising tax rates. The reforms a...
Custom Duty : New baggage rules and processing regulations are notified, replacing earlier frameworks and aligning customs procedures for passen...
Goods and Services Tax : Discover the key amendments in the Finance (No. 2) Bill, 2024, affecting CGST, IGST, UTGST, and Cess Act, including tax exemptions...
Income Tax : A petition has been filed in the Madras High Court challenging the section 271J of the Income Tax Act inserted vide Finance Act 2...
Income Tax : U/s 250(4), the CIT (A) has the power to direct enquiry and call for evidence from the assessee. Under Rule 46A, the assessee has ...
Income Tax : CBDT updated DIN rules to align with new provisions introduced under the Finance Act, 2026. The circular mandates DIN for most tax...
Income Tax : The Finance Act, 2026 prescribes income-tax rates, surcharge, and cess for the assessment year 2026–27. It establishes the legal...
Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026. The rescission is ...
Excise Duty : The government has extended key excise provisions and introduced a specific duty structure for CNG blended with biogas. The key ta...
Excise Duty : The government has reduced the effective National Calamity Contingent Duty on specified tobacco products. The key takeaway is a ca...
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 disputes except for a few exclusions.
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 show cause notice or appeals arising out […]
Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 Opens on : 01.09.2019 Closes on : 31.12.2019 I. Applicability: Disputes, Arrears and amounts payable under Central Excise Act & Ch.V of FA,1994 (Service Tax) and other Acts as detailed in Section 122. II. Authority: a) Sections 120 to 135 of the FA, 2019. {Mentioned as Sections} b) […]
As you may be aware. the `Sabka Vishwas Legacy Dispute Resolution Scheme’ will come into effect on 1st September 2019. There will be two Designated Committees in each Commissionerate to handle the declarations made under this scheme. DIRECTORATE GENERAL OF SYSTEMS & DATA MANAGEMENT CENTRAL BOARD OF INDIRECT TAXES & CUSTOMS 4th & 5th Floor, […]
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 Vishwas (Legacy Dispute Resolution) Scheme, 2019 and […]
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 rules are […]
Circular No. 1071/4/2019-Central Excise.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 directed to state that the Government has announced the […]
CHAPTER V SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019 120. Short title and commencement. (1) This Scheme shall be called the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 (hereafter in this Chapter referred to as the “Scheme”). (2) It shall come into force on such date as the Central Government may, by notification in the […]
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 announced the Sabka Vishwas Legacy […]
In the Union Budget 2019-20, the Hon’ble Finance Minister announced the ‘Sabka Vishwas-Legacy Dispute Resolution Scheme, 2019’. The Scheme has now been notified and will be operationalized from 1st September 2019. The Scheme would continue till 31st December 2019.
