Traders availing amnesty scheme to pay tax arrears first installment by Feb 28

KL News Network


According to Additional Commissioner Commercial Taxes Department Kashmir, all those traders who are availing amnesty scheme under SRO 30 of February 1, 2017 have been asked to pay first installment of their tax arrears by February 28, 2017.

The Additional Commissioner said that as per the SRO there shall be 100 percent remission penalty and interest on arrears of the tax in respect of all the dealers registered under the provisions of Jammu and Kashmir Value Added Tax, 2005, who pay the arrears of VAT, assessed/re-assessed up to the accounting year 2015-2016, in six equal monthly installments.

Furthermore, he said that dealers who default in paying first installment shall entail outright disqualification from the amnesty scheme.

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