SRINAGAR: The Administrative Council (AC) convened under the leadership of Lieutenant Governor Manoj Sinha has greenlit a Finance Department proposal, endorsing amnesty for resolving tax arrears related to the GST regime.
The meeting, attended by Rajeev Rai Bhatnagar, Advisor to the Lieutenant Governor; Atal Dulloo, Chief Secretary; and Mandeep Kumar Bhandari, Principal Secretary to the Lieutenant Governor, saw the approval of a measure set to ease the burden on taxpayers. This entails a waiver of interest and penalty, alongside the recovery of previously obstructed revenue for the Government.
Under a previous amnesty scheme outlined in Government order no 39-FD of 2018 dated 05/02/2018, several dealers were unable to avail themselves of the benefits due to diverse reasons, including the impact of the COVID-19 pandemic.
In response to numerous appeals from the trade and industry sector, the government is extending a one-time opportunity for dealers to settle outstanding arrears under pre-GST tax legislations.
The Amnesty Scheme encompasses the following provisions: i) Complete waiver of penalty and interest under J&K General Sales Tax Act, 1962, and Central Sales Tax Act, 1956, for assessments up to 2017-18 (07/07/2017 for all and 31/08/2017 for liquor dealers); ii) Full waiver of penalty and interest under J&K Value Added Tax Act, 2005, and Central Sales Tax Act, 1956, for assessments up to 2017-18 (07/07 /2017); iii) Waiver of interest and penalty in (i) and (ii) contingent upon 100% payment of principal Tax as per the scheme to be notified by the Government; iv) Resolution of demands for Industrial Units under repealed J&K Value Added Tax Act, 2005 (up to 2017-18) (upto 07/07/2017), J&K General Sales Tax Act, 1962 (up to 07/07/2017 and 31/08/2017 for liquor-dealing units), and Central Sales Tax Act, 1956, in relation to assessed/ re-assessed demands, including yet-to-be-assessed cases, with specified conditions to be notified in the scheme.
This governmental decision aims to curtail tax dispute cases and conclude pre-GST cases. The window for submitting applications for this amnesty will not exceed six months from the issuance date of the relevant order. (GNS)
