Sabka Vishwas scheme extended for J&K, Ladakh UTs

STATE TIMES NEWS

JAMMU: The Central Government has extended period for availing Sabka Vishwas (Legacy Dispute Resolution) scheme upto December 31, 2020 for eligible tax-payers from Union Territories of Jammu & Kashmir and Ladakh. This decision would turn out to be a major relief to taxpayers of Jammu & Kashmir and Ladakh who faced genuine difficulties in availing the scheme earlier due to numerous reasons. It was stated by H B Negi, Commissioner, CGST Commissionerate, Jammu, in a press statement issued on Friday.
Negi further conveyed that the scheme has been extended only for J&K & Ladakh UTs with an objective of reducing litigation and disputes relating to legacy taxes (central excise), so that tax-payers could focus on Goods & Service Tax (GST), which was introduced in 2017.
He further stated that scheme would provide tax-payers relief in payment of disputed tax amounts ranging from 70 per cent (of tax amount) to 40 per cent along with full waiver of interest and penalty.
The Commissioner, CGST Commissionerate, Jammu advised all tax-payers not to miss out the second opportunity, which might also be the last one, for availing the scheme.