Finance Minister introduced a new amnesty scheme in the name of ‘Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019’. This scheme is being introduced for resolution and settlement of legacy cases of Central Excise and Service Tax. The proposed Scheme covers past disputes of taxes, which have got subsumed in GST namely Central Excise, Service Tax, Cesses, etc. All persons are eligible to avail the scheme except a few exclusions including as those convicted under the act in the case for which he intends to make declaration and those who have filed an application before the Settlement Commission. The relief under the scheme varies from forty percent (40%) to seventy percent (70%) of the tax dues for cases other than voluntary disclosure cases, depending on the amount of tax dues involved. The scheme also provides relief from payment of interest and penalty. In addition to the relief from payment of specified percentage of amount of tax dues as stated above, the declarant shall be eligible for following reliefs:
a) On receipt of discharge certificate issued under this scheme with respect to the amount payable, it shall be conclusive as to the matter and time period stated therein; and
b) the declarant shall not be liable to pay any further duty, interest, or penalty with respect to the matter and time period covered in the declaration;
c) the declarant shall not be liable to be prosecuted under the indirect tax enactment with respect to the matter and time period covered in the declaration;
d) no matter and time period covered by such declaration shall be reopened in any other proceeding under the indirect tax enactment.