Our Correspondent
Mokokchung, Nov. 25 (EMN): A programme to highlight the Sabka Vishwas Scheme (SVS) for 2019 also known as ‘legacy dispute resolution,’ and the new Goods and Services Tax (GST) Return was conducted on Monday in Mokokchung.
The programme was organised by the office of the Commissioner of Central GST at Dimapur and attended by businessmen and women in the district.
Temsu Yanger, inspector, gave a presentation about the SVS. He said the cases that are covered by the scheme include trials related to past cases of the Central Excise and Service Tax; appeals arising out of a show-cause notice pending as on the 30th day of June 2019; amount in arrears; enquiry, investigation or audits where the amount is quantified on or before the 30th day of June 2019, and issues of voluntary disclosure.
Yanger said the ‘exclusion areas’ of the scheme are cases in respect of ‘excisable goods’ set forth in the Fourth Schedule to the Central Excise Act, 1944. It includes tobacco and specified petroleum products; cases which the taxpayer has been convicted by the Central Excise Act of 1944 or the Finance Act of 1944 (Service Tax); cases involving erroneous refunds, and cases pending before the settlement commission.
The official informed that the benefits of the scheme includes pay-only-part of the due amount; total waiver of interest and penalty, and immunity from prosecution.
Other features of the scheme include facility for adjustment of any deposits of duty already made; settlement dues to be paid in cash electronically only and cannot be availed as input tax credit later and a full and final closure of the proceedings in question.
The only exception of voluntary disclosure of liability is that there is a provision to reopen a false declaration within a period of one year, he said. He said proceedings of the scheme are fully automated. The scheme is valid till December 31 2019 only.
Zuchobemo, inspector of the Central GST at Dimapur, also gave a presentation on the new GST. Under the new GST system they are two types of taxpayers ie., large and small taxpayers, he said.
‘Large taxpayers are taxpayers whose turnover is more than INR five crore in the previous financial year. They are liable to file monthly returns with no quarterly filing option and they are liable to file normal returns with no option for Sahaj and Sugam return.’
‘Small taxpayers include taxpayers with a turnover of INR five crore or below in the previous financial year. They have options to file quarterly or monthly return besides options to file GST RET-1/RET-2 (Sahaj) or RET-3 (Sugam),’ Zuchobemo said.
Other technical topics related to the new GST system and SVS were also discussed during the programme.
