Tax Dues Settlement Scheme Requires Payment within 30 Days and Withdrawal of Legal Proceedings under Section 127
The Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019, outlined under section 127 of the Finance (No. 2) Act, 2019, allows a designated committee to determine the amount payable by a declarant for settling tax dues. The declarant, identified by a registration or non-assessee code, must pay the specified amount within 30 days of receiving this statement. Additionally, the declarant is required to withdraw any related legal proceedings in higher courts and provide proof of such withdrawal as per section 127(7) of the Act. This scheme covers dues under the Central Excise Act, Finance Act, or Cess Act.
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