Coimbatore: The Central Board of Indirect Taxes and Customs called upon tax payers to clear their dues by utilising the opportunity under ‘Sabka Vishwas (Legacy Dispute Resolution) Scheme’ before the deadline.
According to the statement here on Saturday, the scheme, which is effective from September 1, 2019, is valid till December 31, 2019 to grant relief from pending disputes and arrears. “The two main components of the scheme are dispute resolution and amnesty.
The concerned authority Mr. V K Vamshadhara, said, “the amnesty component of the scheme offers an opportunity to the taxpayers to pay the outstanding tax and be free of any other consequence under the 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 and penalty and in all these cases, there would be no other liability of interest, fine or penalty. There is also complete amnesty from prosecution.”
“As the objective of the scheme is to free as large a segment of the tax payers from the legacy taxes as possible, government urges the taxpayers and all concerned to avail the Sabka Vishwas to make a new beginning,” he noted.