Sabka Vishwas Project 2021

Sabka Vishwas Project 2021

Sabka Vishwas Project 2021

The Sabka Vishwas scheme was launched by the Indirect Taxes and Customs Board of the Government of India. This program is also known as the Traditional Dispute Resolution Program (SVLDRS). Information about this project is given in detail at https://cbic-gst.gov.in/ This program is called the Legacy Dispute Resolution Project.

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Sabka Vishwas Project 2021-Objectives of the Sabka Vishwas Project (Virasat Vivad Samathan Project)

What are the objectives of the traditional dispute resolution program? For what purpose was the Sabka Vishwas Yojana launched?

  • COB is a system for resolving disputes before excise duty and service tax
  • Providing opportunities for voluntary disclosure to non-compliant taxpayers.
Sabka Vishwas Virasat Vivad Samathan Yojana Announcement
Sabka Vishwas Virasat Vivad Samathan Yojana Announcement

Sabka Vishwas Project 2021-Cases under Sapka Vishwas Yojana – SVLDRS

Cases under Sapka Vishwas Scheme –

  • Appeal pending in response to the show cause notice or any other reason show notice pending on 30.06.2019
  • Amount outstanding
  • Any inquiry, inquiry or audit scheduled on or before 30.06.2019.
  • Voluntary expression

Sabka Vishwas Project 2021  Prohibited cases under Sapka Vishwas scheme – SVLDRS

Matters not covered under Sabka Vishwas Yojana –

  • Matters relating to the effluents (including tobacco and certain petrol products) mentioned in the Fourth Schedule of the Federal Excise Act, 1944.
  • Matters to be mentioned under the Taxpayers Federal Excise Act, 1944. Or guilty under the Finance Act, 1994.
  • Defective cash back cases.
  • Matters pending before the Settlement Commission.

Sabka Vishwas Project 2021 – Sapka Vishwas Project Benefits

What are the benefits of the traditional dispute resolution program and who will benefit from it? Benefits of Sabka Vishwas Yojana –

  • Full waiver of interest, fines and penalties, release from trial.
  • In case of non-judgment or pending appeal, Rs. 70% discount on fees if above. 50 lakhs or less and 50% discount if it is Rs. Will be over 50 lakhs.
  • The same robbery in cases involving duty and investigation. 06. 2019 or earlier.
  • 60% of the confirmed payment amount in arrears. Amount Rs. Exception will be granted. 50 lakhs or less and in other cases it will be 40%.
  • In cases of voluntary disclosure, the announcer must pay the full amount of the declared fee.
  • Facility to adjust the fee paid.
  • The outstanding amount for the settlement will be paid electronically only and then the input tax credit will not be available.
  • Complete and final removal of questionable procedures. The only exception is the provision for reconsideration of misrepresentation within one year if the liability is voluntarily disclosed.
  • Acting under the scheme will not be considered as an example of past and future debt.
  • Final results will be announced within 60 days of application.
  • In the event of a disagreement, the final decision will not be made without the opportunity for a personal hearing.
  • The action under the scheme will be fully automated.

Sabka Vishwas Project 2021-About Sabka Vishwas Yojana 2021

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