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

The government had originally set a target to collect Rs 2 lakh crore by end of March 2020, but the pandemic upset the calculations.

51 per cent of which are from the central PSUs, Central Board of Direct Taxes (CBDT) Chairman Pramod Chandra Mody said.

Written by: Prasanta Sahu

1 min readNew DelhiApr 7, 2021 04:31 AM IST First published on: Apr 7, 2021 at 04:31 AM IST

The Centre’s tax resolution scheme ‘Vivad Se Vishwas’ has resolved nearly one-third of all direct tax disputes and has netted Rs 54,005 crore in tax revenue,

51 per cent of which are from the central PSUs, Central Board of Direct Taxes (CBDT) Chairman Pramod Chandra Mody told FE.

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.