CBDT issued updated guidelines concerning MAP on June 10, 2022, clarifying certain issues requested by stakeholders:
(i) Clarification on the interplay of Vivad Se Vishwas Scheme (VSV) and MAP
For resident taxpayer opting for VSV in a case involving TP adjustments and where the same is accepted by Indian authorities, MAP applications from the taxpayer and their AEs may be allowed. The outcome under MAP however shall not deviate from that under VSV. Correlative relief shall be provided instead. For non-resident taxpayer opting for VSV, there shall be no access to MAP for the same issue.
(ii) Clarification regarding responsibilities of applicants to make full disclosure and provide up to date information.
The detailed guidance can be accessed here.
