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July 27, 2020

CBIC Clarifies Sabka Vishwas Legal Dispute Resolution Scheme (SVLDRS) last date 30 June 2020 wont be extended

by facelesscompliance in Income Tax

CBIC Clarifies Sabka Vishwas Legal Dispute Resolution Scheme (SVLDRS) last date 30 June 2020 wont be extended

During the Union Budget, 2020 presentation, the ‘Vivad se Vishwas’ Scheme was announced to provide for dispute resolution in respect of pending income tax litigation. Pursuant to Budget announcement, the Direct Tax Vivad se Vishwas Bill, 2020 (the Bill) was introduced in the Lok Sabha on 5th Feb, 2020. Subsequently, based on the representations received from the stakeholders regarding its various provisions, official amendments to the Bill were proposed. These amendments sought to widen the scope of the bill and reduce the compliance burden on taxpayers.

The Bill has since been passed by the Parliament and has also received the assent of the Hon ‘ble President of India and has now been enacted as The Direct Tax Vivad Se Vishwas Act, 2020 ( Viva(/ se Vishwas). The objective of Vivad se Viswas is to inler alia reduce pending income tax litigation, generate timely revenue for the Government and benefit taxpayers by providing them peace of mind and savings on account of time and resources that would otherwise be spent on the long-drawn and vexatious litigation process.

Sabka Vishwas Legal Dispute Resolution Scheme (SVLDRS) was announced as part of Finance Act 2019 with last date as 31/12/2019.

Considering the difficulties faced by the applicants, the last date for making application under SVLDRS was however extended from 31/12/2019 to 15/1/2020 with date for payment extended till 31/03/2020.

The last date for payment was further extended to 30th June 2020 vide THE TAXATION AND OTHER LAWS (RELAXATION OF CERTAIN PROVISIONS) ORDINANCE, 2020. NO. 2 OF 2020 as a sequel to Corona outbreak.

There has been no further extension of dates for making payment under the SVLDRS Scheme beyond 30th June 2020. The notification dated 27th June 2020 was limited to various compliance under the Customs Act, Central Excise Act, etc., extending date up to 30th September 2020.

The notification dated 27th June 2020 is not for extension of payment date under SVLDRS Scheme.

For below mention FAQ and Forms please click here

  1. e-Filing FAQs on DTVSV Form 1 – 20/05/2020
  2. CBDT FAQs on DTVSV – 23/04/2020
  3. Instructions For Filing DTVSV Form-1 and Form-2
  4. Instructions For Filing DTVSV Form 4

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