CBIC issued FAQs on SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019
The Central Board of Indirect Taxes & Customs issued FAQs on Sabka Vishwas (Legacy Dispute Resolution) Scheme , 2019. The Scheme was introduced vide Finance (No. 2) Bill, 2019. The Scheme is a one time measure for liquidation of past disputes of Central Excise, Service Tax and 26 other indirect tax enactments.
To download FAQs, Sabka Vishwas FAQs
In all eligible cases there is waiver of interest and penalty . In non voluntary cases there is rebate in taxes varying from 40% to 70% . But in voluntary cases there is no waiver in taxes also ITC is denied . This is unjust and unfair. To overcome this there should be some token waiver of say 10% that should be allowed. Government should act fairly and provide for rebate for voluntary cases also.