Panel to take decision within 60 days under tax amnesty scheme; assessee to face action for false declaration: CBIC

The dispute resolution component of the scheme is aimed at liquidating the legacy cases of central excise and service tax that are subsumed in GST and are pending in litigation at various forums.

Press Trust of India August 26, 2019 18:40:46 IST
Panel to take decision within 60 days under tax amnesty scheme; assessee to face action for false declaration: CBIC
  • The scheme provides for total waiver of interest, penalty and fine in all cases, and also immunity from prosecution

  • The scheme will become operational from September 1 and continue till 31 December 2019

  • The FAQs says the tax relief shall be the entire amount of late fee or penalty

New Delhi: The revenue department on Monday said the designated committee will take a decision within 60 days on the declaration made by an assessee for relief under the service tax and excise duty amnesty scheme.

Sabka Vishwas—Legacy Dispute Resolution Scheme, 2019, to reduce legacy service tax and central excise cases will become operational for four months beginning 1 September.

The scheme provides for total waiver of interest, penalty and fine in all cases, and also immunity from prosecution, the Central Board of Indirect Taxes and Customs (CBIC) said in FAQs on the scheme.

Panel to take decision within 60 days under tax amnesty scheme assessee to face action for false declaration CBIC

Representational image. Reuters

On how will an applicant come to know about the final decision taken by the designated committee on his or her declaration, the FAQs said: "Within sixty days of the filing of a declaration, you will be informed electronically about the final decision taken in the matter".

The dispute resolution component of the scheme is aimed at liquidating the legacy cases of central excise and service tax that are subsumed in GST and are pending in litigation at various forums.

The amnesty component offers an opportunity for taxpayers to pay the outstanding tax and be free of any other consequence under the law.

The scheme will become operational from September 1 and continue till 31 December 2019.

More than Rs 3.75 lakh crore is blocked in service tax and excise litigations.

The scheme, announced by Finance Minister Nirmala Sitharaman in her Budget speech, is especially tailored to free a large number of small taxpayers of their pending disputes with the tax administration, the ministry said.

For all the cases pending in adjudication or appeal, in any forum, the scheme offers a relief of 70 percent from the duty demand if it is Rs 50 lakh or less, and 50 percent if it is more than Rs 50 lakh.

The FAQs further said the tax relief shall be the entire amount of late fee or penalty.

It has also cautioned that action would be taken against an assessee for making any false declaration.

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