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Sabka Vishwas Tax Amnesty Scheme: Big taxpayers stick to legal fight

 Sabka Vishwas Tax Amnesty Scheme: Big taxpayers stick to legal fight

Taxpayers with deep pockets seem to have weighed the two options of resolving their indirect tax disputes with the government under the Sabka Vishwas scheme and getting legal remedy, only to mostly choose the latter route. Why else even after nearly 90% of the eligible taxpayers opted for Sabka Vishwas, cases related to only a fifth of the total disputed amount of Rs 3.6 lakh crore have been resolved yet? As reported by FE earlier, the scheme’s original deadline was December 31 but it was later extended to January 15. Over 87% of 1.8 lakh eligible taxpayers applied for the leniency scheme by Monday, according to officials. The government had earlier said 1.6 lakh taxpayers committed to pay Rs 35,094 crore of Rs 79,968 crore claimed by the taxman and settled the disputes. It remains to be seen how much of the committed payments will be made in the current fiscal. Government sources say that large taxpayers are steering clear of the scheme because in many cases the tax consultants and lawyers employed by the firms might have found that immediate settlements would not be in the best interests of these intermediaries.

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