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Government Extends Sabka Vishwas Tax Amnesty Scheme Till 15 January After Receiving Huge Response From Taxpayers
Union Finance Minister, Nirmala Sitharaman (Pic Via Facebook)
The government has extended the Sabka Vishwas (Legacy Dispute Resolution) Scheme, which received huge response with 73 per cent of the eligible taxpayers availing the amnesty scheme and committing to pay Rs 30,627 crore, by 15 days to 15 January 2020.
"Keeping in view the taxpayers' response, the central government has extended the scheme for 15 days, till January 15," the Central Board of Indirect Taxes and Customs (CBIC) said in a statement, on Tuesday (31 December).
It's one-time and final extension, the CBIC added.
Of the 1.84 lakh taxpayers eligible to avail the scheme, 1,33,661 submitted their applications by 31 December 2019, the CBIC said.
While the initial response was tepid, the scheme saw a spurt in applications in the past 15 days with 31 December being the last date.
The scheme was introduced in the last budget with the twin objectives of liquidating the legacy disputes in the central excise and service taxes, pending at various fora, as well as encouraging non-compliant taxpayers/evaders to declare the tax not paid and come under the tax net voluntarily.
(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)
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