Steel PSUs pay over Rs 773 cr under govt's Vivad se Vishwas scheme

Steel PSUs have paid tax dues of over Rs 773 crore till March 31 under the government's Vivad Se Vishwas scheme, an official statement said.

The government initiated the scheme with the objective of reducing income tax litigation, generate timely revenues and help taxpayers to end their tax disputes with the department by paying the disputed tax and get waiver from payment of interest and penalty, the Ministry of Steel said in a statement. "Several Central Public Sector Enterprises (CPSEs) under the Ministry of Steel have made payment of due tax to the government under Vivad Se Vishwas scheme by March 31, 2020," it said.

As per the statement, NMDC has paid the highest Rs 697.96 crore under the scheme.

Steel Authority of India Ltd (SAIL) has paid Rs 46.16 crore, Rashtriya Ispat Nigam Ltd (RINL) Rs 26.5 crore, MOIL Rs 1.78 crore, KIOCL Rs 0.60 crore and JKMDC 0.11 crore, it added.