Quick Summary
In a major decision to help the trade and industry in the newly formed Union Territory (UT) of Jammu Kashmir and UT of Ladakh, the Central Government has decided to extend the period for availing the Sabka Vishwas (Legacy Dispute Resolution) (SVLDR) Scheme (SVLDRS), 2019 to 31st December, 2020 for eligible taxpayers from these UTs. This decision would come as a major relief to taxpayers of Jammu Kashmir and Ladakh who faced genuine difficulties in availing the Scheme during the original per
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FAQ :
The deadline for filing applications under the Sabka Vishwas (Legacy Dispute Resolution) Scheme for eligible taxpayers in Jammu & Kashmir and Ladakh has been extended to 31st December 2020.
Eligible taxpayers in the Union Territories of Jammu & Kashmir and Ladakh can avail of this extended period.
The scheme was introduced to reduce litigation and disputes related to legacy taxes such as Central Excise and Service Tax, enabling taxpayers to focus on GST.
The scheme offered relief in payment of disputed tax amounts, ranging from 70% to 40% of the tax amount, along with a full waiver of interest and penalty.
The scheme originally closed on 30th June 2020.
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