Government has extended the last date for filing applications under Sabka Vishwas (Legacy Dispute Resolution) Scheme to 31st December this year for Jammu and Kashmir and Ladakh. Finance Ministry said, this decision will come as a major relief to taxpayers of both the Union Territories who faced genuine difficulties in availing the Scheme during the original period of operation. The extension gives these taxpayers a fresh opportunity to settle their past tax disputes.
The Scheme was introduced on 1st September,
2019 with the objective of reducing litigation and disputes relating to legacy taxes namely, Central Excise and Service Tax so that taxpayers could focus on GST.
The Scheme closed on 30th June this year. Finance Ministry said, this decision to extend the period for availing the Scheme for the taxpayers of both the UTs will provide them a level playing field with the thousands of other taxpayers across the country who took the advantage of the Scheme.