Set the bird free from the cage of pre-GST legacy disputes

Bimal Jain 
on 12 September 2019


"Close some doors not because of pride or incapacity, but simply because they no longer lead somewhere and start a fresh." - Paulo Coelho

Overview of the SVLDRS, 2019:

In the Union Budget 2019-20, the Hon’ble Finance Minister announced the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 (“SVLDRS, 2019” or “the Scheme”) to close the pending legacy disputes of Service Tax and Excise. The Scheme has now been notified and is in operation from September 1, 2019, which would continue till December 31, 2019.
 
Two main components of the Scheme are:

 
  • Dispute resolution: The dispute resolution component is aimed at liquidating the legacy cases of Central Excise and Service Tax that have been subsumed in GST and are pending in litigation at various forums.
  • Amnesty: The amnesty component of the Scheme offers an opportunity to the taxpayers to pay specified percentage of outstanding tax and be free of any other consequences under law. The most attractive aspect of the Scheme is that it provides substantial relief in the tax dues for all categories of cases as well as full waiver of interest, fine, penalty. In all these cases, there would be no other liability of interest, fine or penalty. There is also a complete amnesty from prosecution.
 

Video by Mr. Bimal Jain:

 

The basic aim of the Government behind introducing this Scheme is to unload the baggage of more than INR 3.75 lakh crores blocked in litigations in Service Tax & Excise and allow the businesses to move on. Hence, the Government expects the Scheme to be availed by large number of taxpayers for closing their pending disputes relating to legacy Service Tax and Central Excise cases that are now subsumed under GST so they can focus on GST.

But whether this Scheme is available to all the pending cases of the pre-GST era as on date? Whether same benefit is allowed or the benefit is proportional to the quantum of amount involved in that case? Who all are eligible for this Scheme? How to opt for the Scheme? What…Why….When…..

 

There are many ifs and buts surrounding the minds of the taxpayers who are facing the brunt of pre-GST litigation and want to seek relief of this Amnesty Scheme. Considering the immediate importance of SVLDRS, 2019 having shelf life of 4 months, Mr. Bimal Jain has recorded an overview of the Scheme in most lucid manner along with highlighting the must knowable facts of SVLDRS, 2019, in half an hour video capsule.

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