Government has notified rules and forms just 10 days before the deadline for payment of tax under the Vivad se Vishwas scheme.
The government’s newly introduced e-filing facility to end direct tax disputes under Vivad se Vishwas scheme may not do much help to the taxpayers now. With only 10 days left to reach the deadline of Vivad se Vishwas scheme and amid coronavirus scare keeping people away from offices, the success of the dispute resolution scheme may differ than anticipated. While the overview and the purpose of the scheme were already known to the taxpayers, the exact rules and related forms have reached them only yesterday.
Even if the corporations find it worthy to file the dispute resolution to end the long-pending litigation, the new set of rules may make it inconvenient for them to get through this while working from remote locations.
Considering the turbulence in office works, many tax experts have asked the government to push the deadline to mid-May, to help more and more taxpayers to take the benefit of the scheme and end the litigation on them. Meanwhile, Finance Minister Nirmala Sitharaman introduced the Vivad se Vishwas scheme on 1 February in Budget 2020, to solve the cases of litigations due to direct tax dispute. The government also announced a waiver on penalty and interest if a taxpayer opts for this scheme, before the deadline of 31 March 2020.
