The Union Cabinet accepted the amendment of the Direct
Tax Vivad se Vishwas Bill, 2020. The Bill was introduced by Finance Minister
Nirmala Sitharaman in the Union Budget 2020. The Bill seek to provide
resolution for disputed tax cases that involve Rs.9.32 lakh crore.The amendment
will widen the scope to cover litigation pending in various debt recovery
♦ The Bill was introduced by an aim to reduce litigation related to direct taxes.
♦ It will cover tax disputes pending at the level of commissioner (appeals), Income Tax Appellate Tribunals (ITAT), high courts (HCs) and the Supreme Court (SC).
♦ It is predictable that the people will take advantage of the Vivad se Vishwas scheme to settle the tax disputes before 31 March 2020, as 10% more will be charged for completion of disputes after that date.