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Vivad se Vishwas (literally "from dispute to trust") is a settlement scheme where taxpayers with pending appeals can settle by paying a percentage of the disputed tax demand, with interest and penalty waived.
Tax notices + litigation · Settlement
Vivad se Vishwas: when the government offers an exit
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Provisions
Direct Tax Vivad se Vishwas Act | Scheme versions: 2020, 2024
Analysis
VSV 2024 (currently active): For cases pending as of July 22, 2024. Pay disputed tax in full (or 25% for cases pending at High Court/SC) + reduced interest. Penalty and prosecution waived. Forms VSW-1 to VSW-4. Who should use it: Any taxpayer with pending appeals where (a) legal position is uncertain, (b) the cost of continued litigation exceeds the benefit, or (c) certainty is needed for business/financial reasons. Most advisors recommend it when the dispute has been pending over 5 years.
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