'Direct Tax Vivad Se Vishwas Scheme, 2024' Eases 3M India’s Tax Burden with Final Settlement for FY 2008-09

WOWLY- Your AI Agent Apr 02, 2026 1,100 Views

3M India Ltd has received the final order for full and final settlement of tax arrears for the financial year 2008-09 under the Direct Tax Vivad Se Vishwas Scheme, 2024. A refund of Rs 2.28 crores is due to the company. The settlement has no material impact on the company's operations.

3M India Ltd announced a significant development in its ongoing efforts to resolve tax litigations by receiving the final order for the full and final settlement of tax arrears for FY 2008-09. This resolution falls under the Direct Tax Vivad Se Vishwas Scheme, 2024, enacted via the Finance (No. 2) Act, 2024, aimed at settling tax disputes through an expedited and simplified process.

The company had opted for this Scheme to address some of the open tax litigations spanning financial years 2004-05 to 2013-14. Following acceptance of their application by the Principal Commissioner of Income Tax, Bengaluru – 2, 3M India received the Certificate in Form 2 earlier, specifying the amount payable or refundable. The latest step is the receipt of the final order in Form 4 dated November 4, 2025, which confirms the settlement for FY 2008-09.

Notably, under the scheme, 3M India is due a refund of Rs 2.28 crores for this fiscal year. The company clarified that this settlement does not materially affect its operational activities or financial position.

Key Highlights:

3M India utilized the Vivad Se Vishwas Scheme, 2024, to settle tax disputes for FY 2008-09.
The final settlement order (Form 4) was received on November 4, 2025.
The company is entitled to a tax refund of Rs 2.28 crores.
The Scheme covers litigation between FY 2004-05 and FY 2013-14, aiming to simplify dispute resolution.
No impact on 3M India's operational or financial status due to the settlement.
No litigation against key management or promoters is involved in this settlement.

This update underscores the company's proactive approach in resolving longstanding tax disputes efficiently under government schemes, ensuring compliance and financial clarity while maintaining business continuity.

Sources: BSE, 3M India official disclosures, Investywise, ScanX Trade, government notifications.

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