Vivad Se Vishwas: Govt nets Rs 54K cr, half of it from PSUs

Although the expectations regarding the scheme was much higher — the government had originally set a target to collect Rs 2 lakh crore by the end of March 2020, but the Covid-19 pandemic upset the calculations — the government still flags the scheme as a success, citing that a 1998 scheme could only mop up Rs 739 crore with resolution of a few thousand disputes and another one in 2016 managed to resolve just 8,600 cases involving a tax demand of Rs 631 crore.

“The numbers suggest that the scheme has been a “very successful” in terms of reduction of legacy disputes. With assessments happening in a fairer and objective manner now, disputes generation will be less going forward,” Mody said.

The top tax department official said 1,33,837 Form-1 were filed involving 1,48,690 dispute declarations with disputed tax worth Rs 1,00,437 crore. FE