sabka vikas scheme

[Richa Goyal]

Sir

The assessee has already paid the whole duty and interest at the time of audit. But the OIA has been passed confirming the penalty amount . .. the time for filling the appeal has already elasped. Can we file the matter under Sabka Vikas Scheme ? if yes.. what will be the implications.

Shall be grateful for your support.

[Shilpi Jain]

Yes you can apply for the scheme, but you will get waiver only from the penalty, Other amounts already paid (interest, tax) cannot be got back.

[KASTURI SETHI]

Yes. Relief from penalty is allowed as per Section 124 (1) (b) of Chapter V of the Finance (No.2) Act, 2019. SVLDR Scheme, 2019

[Richa Goyal]

Thanks a lot for your guidance. It has been a great help.

Regards

Richa Goyal

AI Summary

Penalty waiver under Sabka Vikas Scheme available; previously paid tax and interest remain non refundable per scheme.
Relief under the Sabka Vikas Scheme is limited to waiver of the confirmed penalty; amounts already paid such as duty/tax and interest at the time of audit cannot be recovered through the scheme, and the scheme may be invoked notwithstanding that the time for filing an appeal has lapsed.