Govt ready to extend Vivad se Vishwas to settle Cairn Energy dispute

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Amid the international arbitration with Cairn Energy, the government is open to extending “Vivad se Vishwas, the direct tax dispute resolution scheme, beyond March 31 if the UK oil major shows an interest in settling litigation under it.
 
In the meeting with finance ministry officials last month, Cairn was offered an immediate refund of $300million in case it chose to settle the tax dispute under the ongoing scheme.
 
Under it, the principal tax demand on Cairn will go down by half to Rs 5,100 crore and there will be a waiver of interest and penalty. In addition, the