The Government has asked its tax officers across the country to urge indirect tax payers to make use of the ongoing dispute resolution scheme, Sabka Vishwas, which is due to close at the end of the month and made it clear that the deadline will not be extended. So far, over 52,000 applications have been filed under the settlement scheme announced in budget with the amount estimated to be close to Rs 28,000 crore.

In a communication to top officials, the Central Board of Indirect Taxes and Customs has tasked field offices to reach

out to “every eligible taxpayer in the right earnest” to expalin the benefits and urge them to avail the scheme. “ ... this is the last opportunity for them to take its (scheme’s) advantage and finalise their pending cases by paying highly concesisonal amounts,” the instructions issued on Monday said.

While taxpayers have to pay the entire amount in case of voluntary disclosure, tax relief can be as much as 70% of the tax demand for cases up to Rs 50 lakh where they are pending adjudication or appeal. Where the demand from the taxman has been confirmed the relief can be 40-60%, depending on the amount. #casansaar (Source - PTI, Times of India)