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State-run mineral producer NMDC has said it managed to save ₹888.09 crore in possible tax payments by opting for the Vivad se Vishwas scheme of the Centre.
“Several Central Public Sector Enterprises (CPSEs) under the Ministry of Steel have made payment of due tax to the government under Vivad Se Vishwas scheme by March 31, 2020,” said a Steel Ministry statement.
The Centre had initiated the scheme with the objective of reducing pending income tax litigation, generating timely revenues for the government and helping taxpayers end their tax disputes by paying disputed tax and get waiver from payment of interest and penalty, the statement added.
According to data shared by the Steel Ministry, NMDC settled a dispute of ₹1,868.80 crore for ₹980.71 crore. SAIL settled a dispute of ₹266.27 crore for ₹186.72 crore.
Rashtriya Ispat Nigam Ltd settled two disputes under the scheme — a dispute of ₹577.32 crore was settled for ₹275.88 crore, while another one of ₹29.39 crore was settled for ₹22.61 crore.
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