Sabka Vishwas (Legacy Disputes Resolution) Scheme Called as SVLDRS - Benefits to Trade and Analysis for the Benefit of Practising Professionals

Abstract

Liquidity problems are for the trade and Government as well. Pendency of adjudication and investigations is certainly a headache for Government and a cause of tension for the trade. The objectives of SVLDRS will address both the issues effectively. Better to realise the arrears before Financial creditors prevent CBIC to recover under IBC Code. Government is neither financial creditor nor Operational creditor for the arrears of taxes unrecovered. Let the fight remain between NCLT and CBIC to decide the status of amounts due to Government. The Trade should take all the offered sweets.