New Due date for Vivad se vishwas Act, notified on 27.10.2020

written by Income tax Expert | October 27, 2020

Vivad se vishwas is a dispute resolution scheme under Direct Tax which was announced after the success of dispute resolution scheme under Indirect tax.

It become an act after receiving President’s assent on 17.03.2020.

This scheme was originally set to end on 31.03.2020 however due to pandemic and delay in implementation it got delayed.

 

Now on 27.10.2020, CBDT has vide notification announced an extension in the timeline of implementation which is as under:

1. An eligible person can file declaration under Vivad se vishwas scheme on or before 31.12.2020.

2. Payment under Vivad se vishwas scheme can be made upto 31.03.2021 without any payment of interest.

3. On or after 01.04.2021 any payment under vivad se vishwas scheme shall be made with prescribed interest.

 

To read the full notification CLICK HERE.