Sabka Vishwas (Legacy Dispute Resolution) Scheme - An endeavour to get rid of Legacy Indirect Tax Disputes

"Every new beginning comes after an end of something-"

With this perspective in mind, the Union Government announced the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 (Scheme) as a part of the Union Budget 2019 - 20. The Scheme will be in vogue during September 2019 to December 2019. Recently, the Government has also notified Sabka Vishwas (Legacy Dispute Resolution) Scheme Rules, 2019. CBIC has further issued FAQs as well as Circular, spelling out important clarifications relating to the Scheme.

The Scheme is a pragmatic step to remove the baggage relating to the legacy Indirect Taxes viz. Central Excise, Service Tax etc., that have been subsumed in GST. With this, the businesses can make a new beginning post introduction of GST. It aims to unlock Rs.3.75 Lakh crore stuck in such litigations.

The Scheme is a pro-taxpayer device which gives an opportunity to not only prevent upcoming litigation as well as bring an end to an identified demand. The most important aspect of the scheme is that it gives full waiver from interest, penalty and prosecution as well as major part of tax demand itself.

The Scheme covers the following Indirect Tax Enactments:

• Central Excise Act, 1944
• Central Excise Tariff Act, 1985
• Chapter V of the Finance Act, 1944
• Additional Duties of Excise (Goods of Special Importance) Act, 1957
• Finance Act, 2004, 2007, 2015 & 2016 (Education Cess, Senior and Higher Secondary Education Cess, SBC and KKC)
• Any other act notified by Central Government

Note: The scheme shall not be applicable for the disputes relating to the Customs Act, 1962 and the goods on which excise duty is presently applicable (covered under the Fourth Schedule of the Excise Act)

Evidently, it is a golden opportunity for the taxpayers to put a full stop to old disputes. One needs to be equipped with complete knowledge about the scheme to make an informed decision as to whether to go under this scheme or not.

For imparting an in-depth legal and practical understanding of Legacy, we are organizing an exclusive live interactive webinar with a renowned expert in Indirect Taxes - S.K. Rahman, Commissioner ( IT & Compliance Verification ) of Directorate General of System and Mr. Puneet Bansal (Managing Partner, NITYA Tax Associates).

The webinar will be a 2-hour interactive session on September 21, 2019, covering extensive discussion on the scheme including a dedicated Q&A session at the end.

Topics to be covered

• Overview about the Scheme
• Category of eligible and ineligible persons
• Amount of tax relief available (with illustrations)
• Restrictions applicable
• Procedure to be followed
• Consequences of going for the Scheme
• Other points to ponder
• Way forward
• Q&A session

Register Now

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Experienced Faculty

S K Rahman IRS , Presently, S K Rahman looks after all the IT matters of CBIC. He has been appointed for the implementation of Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 on All India Basis. As a Member of Law Committee; he has been playing major role in drafting and editing of the circulars, amendments to rules etc. In the Joint meetings of Law Committee and Fitment Committee, he contributes by giving comments on the draft Notifications. He also assists the GST Policy Wing of CBIC in all GST policy, law, procedure , circulars , agenda for GSTC etc. As Member of IT Committee; he attends the video conference meeting of IT Committee and sort out many IT issues with GSTN.

Prior to this, he was an Additional Director General in DG GST. He looked after the GST implementation in CBIC on All India Basis for 2 years and all GST policy matters for trade and officers.

He has been awarded with President of India’s award of Appreciation Certificate for specially distinguished record of service, on Republic Day i.e. January 26, 2008; and Certificate of Merit by World Customs Organization for rendering exceptional service to the Customs administration of India on International Customs Day i.e. January 26, 2011.

He has been honoured with some other awards as well like NCB Director General’s Commendation Medal in January 1995, India’s DARE Award in June,1995 and many appreciation letters from Ministry of Finance, Government of India.

His excellence is not just limited to India, but reached many other countries like in Tanzania, he developed valuation database; in Maldives, he developed HSN for them; in WCO Brussels, he presented a paper on Valuation of used goods and guided many international projects.

He is an IRS officer (1992 Batch). He has completed B.E.(hons) from BITS Pilani.

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CA Puneet Bansal , has over 20 years of experience in advising leading Multinational and Indian companies in setting up operations in India, structuring business models and supply chain, optimizing tax exposures and contract reviews from the perspective of Indirect tax laws.
Puneet has a rich experience in litigation and has successfully represented clients' interests before various judicial fora across India.
Puneet regularly addresses seminars/ workshops across India on diverse Indirect Tax issues. He actively contributes articles on emerging controversies on renowned tax portals.
Prior to starting NITYA, Puneet was a Partner with BMR & Associates LLP and Lakshmikumaran & Sridharan in their Indirect Tax practice.
Puneet is a member of the Institute of Chartered Accountants of India, having held All India merit position in CA Final. He also holds Bachelor's degrees in Commerce and Law.

Terms and Conditions:

• The recorded session will be provided
• Total length: 2 hrs (approx)
• Viewing times: 5 hrs or 1 month whichever is earlier from the date of registration