Big players stayed away from Vivad se Vishwas: CBDT chairman P C Mody

The scheme announced in the Budget last year allowed for the settlement of tax disputes due up to January 31, 2020.

The government may have managed to resolve nearly 30 per cent of the pending direct tax disputes under the Vivad se Vishwas (VsV) scheme, but only ab­o­ut 10.07 per cent of the disputed tax am­­ount has been settled, clearly sugg­e­sting that large players chose to stay away.

In an interview to Business Stan­dard, Central Board of Direct Taxes (CBDT) Chair­man P C Mody attributed the trend to ‘large players being able to afford the cost of litigation’. “This scheme has been a grand success. Rather than focusing on collection, the intent of the scheme was the settlement of disputes,” said Mody.

The