KL NEWS NETWORK
SRINAGAR
President Kashmir Chamber of Commerce & Industry on Wednesday hailed the government decision of withdrawing the penalty and interest on tax arrears.
“We appreciates the decision and issuance of notification under SRO-360, 361 and 362 dated November 13, 2016 of the Finance department Govt. of J&K regarding remission of 100% penalty and interest on arrears of the Tax in respect of all dealers registered under J&K General sales Tax Act 1962 who pay arrears of sales Tax assessed / reassessed up to the accounting year 2015-2016 in 6 equal monthly installments with the 1st installment to be paid within one month of the publication of the notification,” Mushtaq Ahmad Wani, Chairman of KCCI said .
Wani said the Chamber has been pleading with the government for such amnesty for quite some time on the basis of the fact that that the Kashmir trade has been passing through numerous problems ever since the deluge in September 2014. He has urged the registered traders / dealers to respond and take the full advantage of the amnesty thus announced by the government.
The decision, it may be recalled here, came in sharp focus with various political beings opposing the idea. They said the decision was aimed at benefiting a select few.
