Vivad Se Vishwas: Centre gains Rs 54,000 crore through scheme
The total disputed tax across all the cases resolved through the tax amnesty scheme is more than Rs 1 lakh crore.
April 07, 2021 / 09:13 AM IST
The total disputed tax across all the resolved cases is more than Rs 1 lakh crore
The government has gained Rs 54,005 crore in revenue through the Vivad Se Vishwas scheme, or the direct tax dispute resolution scheme.
The amount was garnered by settling over 133,000 pleas made through the scheme, CBDT chief PC Mody told Mint.
"The scheme has achieved its purpose. It has helped in settling disputes, which was the focus area, more than the collection of revenue, Mody told the publication.
If appeals by the tax department and the taxpayer over the same taxation issue is calculated, then disputes successfully concluded are 1,48,690 or more than 29 percent of the total disputes, the report said citing CBDT data.
Among these, 2,255 of the cases settled belong to central and state government-owned firms and of government agencies incorporated as boards. But these cases accounted for receipts worth Rs 28,738 crore, the bulk of the Rs 54,005 crore garnered.
The total disputed tax across all the resolved cases is more than Rs 1 lakh crore, the report said.
The deadline set by the Income Tax Department for filing declarations and making payment the Vivad Se Vishwas was March 31 and April 30, respectively.