VAT exemption on cooking gas to continue
KL Report
Srinagar
While calling for greater coordination between J&K Bank, Accounts & Treasuries and Commercial Taxes departments to streamline tax realization system, Abdul Rahim Rather, minister for finance and Ladakh affairs, said strict action would be taken against the tax defaulters.
Rather informed an amount of Rs 739.23 crore has been realized during the first two quarters of the current fiscal against Rs 681.88 crore realized during the corresponding period last financial year.
While addressing quarterly review meeting of the Commercial Tax department (Kashmir Division), Minister urged for making the tax collection system more people friendly so that tax payers do not feel any kind of inconvenience.
“The department has realized Rs 20.29 crore as penalty from the defaulters up to October this fiscal during whereas more than 32,000 new registrations were granted to the traders during the same period. In addition, about 1200 inspection of various establishments were also conducted up to October 2012 where from Rs 26.84 crore was realized from the defaulters as penalty,” revealed an official statement of the meeting.
“There are stringent laws to deal with defaulters with iron hand but they are provided one more opportunity to clear their arrears as early as possible before any action is initiated against them” said the minister.
Rather also said state’s development is subservient to the tax collection adding that the Commercial Tax department should launch a vigorous campaign against tax defaulters and their abettors irrespective of their status and position. He instructed Commercial Taxes Officers to ascertain that money collected from tax payers is immediately deposited adding that there should be no unnecessary retention in this regard. He also called for pursuing the court cases vigorously to vacated stays on them.
It was also announced in the meeting that exemption of Value Added Tax (VAT) on domestic cooking gas from the month of April this year will continue in future also to provide respite to the people, even though the State exchequer had to bear the burden of Rs. 17 crore on this account during first seven months of the current fiscal.
