CURRENT AFFAIRS

2019

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Sabka Vishwas scheme is associated to which purpose?
A
To settle pending SC/ST cases
B
To settle pending PIL cases
C
To settle pending indirect tax disputes
D
To settle pending women related cases
Explanation: 

Detailed explanation-1: -Sabka Vishwas Legacy Dispute Resolution Scheme is an ambitious scheme made available for the pre-GST taxpayers to resolve the tax disputes.

Detailed explanation-2: -SVLDR scheme Benefits Total waiver of interest and penalty. Cases pending in adjudication or appeal, a relief of 70% from the duty demand if it is Rs. 50 lakhs or less and 50% if it is more than Rs. 50 lakhs.

Detailed explanation-3: -What is the SVLDRS (Sabka Vishwas Legacy Dispute Resolution Scheme) all about? The scheme is for taxpayers who seek to close their pending disputes with a substantial relief provided by the government. This scheme provided relief to the taxpayers in the form of Dispute Resolution and Amnesty.

Detailed explanation-4: -Benefit of “Sabka Vishwas” Amnesty Scheme can be Availed Even After filing of Service Tax Return and Payment of full Tax: CBIC.

Detailed explanation-5: -The GST Amnesty Scheme for 2022 allows waiving all arrears in cases where arrears are Rs. 10,000 or less. Dealers with arrears of Rs. 10 lakhs or less as of 1st April 2022 are allowed to pay 20% of total arrears as a lump sum amount instead of calculating the same with interest and penalty.

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