Last few days to avail the benefit of Scheme “Sabka Vishwas” 2019
Recently government has issued a notification no.06/2019 Central Excise (N.T) dated 04th December, 2019 to clarify points on the Scheme. The basic objective of this scheme is:
Liquidation of past disputes of Central Excise and Service Tax i.e. Litigation issues;
Payment of arrears to Government at discounted rate;
To provide an opportunity of voluntary disclosure to non-compliant taxpayers.
Key Points:
Cases covered and not-covered under Scheme:
Inclusions
Exclusions
(a) Show cause notice or appeals arising out of a show cause notice pending as on 30th June, 2019
(a) Cases for which the taxpayers have been convicted under the Central Excise Act, 1994 or Finance Act, 1994
(b) Amount in arrears
(b) Cases involving erroneous refunds
(c) An enquiry, investigation or audit where the amount is quantified on or before 30th June, 2019
(c) Cases pending before the settlement commission.
(d) A voluntary disclosure by non-compliant taxpayers.
(d) Cases in respect of excisable goods for e.g. tobacco and petroleum as defined in Fourth Schedule to the Central Excise Act, 1994
Benefit under the scheme:
Total Waiver of interest, penalty and fine
Immunity from prosecution
Cases pending in adjudication or appeal for which duty involved is quantified before 30th June, 2019, then there is a relief of 70% from the duty demand if it less than or equal to Rs.50 Lakh and 50% if it more than Rs.50 Lakh.
Cases of arrears, the relief offered is 60% of the confirmed duty if it less than or equal to Rs.50 Lakh and 40% if it is more than Rs.50 Lakh.
Fully automated proceeding under the scheme.
Note: Last date to avail the benefit of scheme is 31 December, 2019.
