Sab Ka Vishwas (Legacy Dispute Resolution) Scheme, 2019

Abstract

While presenting Finance Bill, 2019¹ on fifth of July month, the Hon. Finance Minister Nirmala Sitharaman stated that,

“An area that concerns me is that we have huge pending litigations from pre-GST regime. More than Rs.3.75 lakh crores are blocked in litigations in service tax and central excise. There is need to unload this baggage and allow business to move on, I therefore propose, a Legacy Dispute Resolution Scheme that will allow quick closure of these litigations. I would urge the trade and business to avail this opportunity and be free from legacy litigations.”

Starting with the above brief introduction a highly beneficial scheme providing much needed relief to trade and industry was announced, which has been made effective from 01.09.2019 ,and  the Rules for procedure and forms have been notified  vide Notification No.5/2019-C-E (N.T.),DATED 21.08.2019². Looking to the extra ordinary reliefs given in this scheme it is worthwhile to understand properly and make best use of it.