“Sabka Vishwas” legacy dispute resolution scheme as announced in the budget for solving the cases and litigations related to excise and service tax. The Indirect tax’s amnesty scheme waives both interest and penalty amounts along with the reduction of disputed tax amount.
Earlier, CBIC had released a set of FAQs on Sabka Vishwas Scheme (Legacy Dispute Resolution), 2019 for clarifying the concerns raised.
Now, In exercise of the powers conferred by sub-sections (1) and (2) of section 132 of the Finance (No. 2) Act, 2019 (23 of 2019), the Central Government has published the Rules under Sabka Vishwas Legacy Dispute Resolution Scheme (SVLDRS), 2019.
The rules contains:
- Form of declaration under section 125, which is to be filed in Form SVLDRS-1 by the declarant on or before the 31st December,2019.
- Constitution of designated committee.
- Form and manner of making the payment.
- Issue of discharge certificate etc.
Read and download the full notification