Centre extends last date for service tax, central excise dispute resolution scheme till Jan 15

The Central government on Tuesday extended the last date for Sabka Vishwas, a scheme for settling pending disputes of service tax and central excise till January 15, 2020.

According to an official statement, the scheme received a huge response from the eligible taxpayers with almost 73 per cent availing of the scheme and committing to pay tax dues of Rs 30,627 crore.

The Centre government has said that this is a one-time and final extension.

The Central Board of Indirect Taxes and Customs (CBIC) has said that out of the total 1.84 lakh taxpayers, who are eligible to avail of the scheme, as many as 1,33,661 taxpayers have so far submitted their applications by the morning of December 31, 2019.

The CBIC falls under the ambit of the Department of Revenue, Ministry of Finance, Government of India.

"Their applications involve tax dues of Rs 69,550 crore. After availing various reliefs, the payable amount is Rs 30,627 crore. Sabka Vishwas is received by the taxpayers as the most beneficial dispute resolution scheme ever announced by the government," adds the statement.