Rathar Says Reforms in Taxation Laws Imperative

JAMMU – Saying that Tax Bar was an important and inbuilt constituent of overall Tax Management System, the Minister for Financial and Ladakh affairs, Mr. Abdul Rahim Rather today said that the Government was always open to remove anomalies in tax statues, if any, with an objective to generate more revenue without any harassment to the dealers. 

Speaking at pre-budget meetings with the members of Tax Bar Association, Civil Society and intelligentsia, Mr. Rather assured the Tax Bar members that their good suggestions to further simplify the taxation system in the State would be always appreciated, if any time, need was felt to make legislative changes in this regard. He said changes and reforms is a continued process to bring further improvements in a system adding that the State by bringing tax reforms from time to time has achieved a distinction to be one of the best tax collection states of the country hoping that the J&K will also be a good performer in the successful implementation of the proposed Goods and Services tax regime, which being implemented throughout the country shortly. He asked the bar members and the intelligentsia to study all the pros and cones of the proposed. Goods and Services Tax Regime (GST) adding that being the torch bearers of the society, onus lies on them to educate masses especially trade and industry about the importance tax realization in the overall socio economic development of a society. He said State has registered highest tax revenue of Rs. 5500 crore this fiscal against Rs. 2600 crore in 2009 only due to reforms and regularization in tax management system as no new taxes have been levied repeatedly for last three years.

Rather assured that the suggestion regarding “Tatkal Registration, facility under various Tax legislations in vogue, removal of alleged double taxation in service sector, amendment in entry tax and amendment in section 60 of J&K VAT Act, 2005 to allow the tax advocates to Audit the Accounts and Prepare Audit reports for the purposes of VAT Act, on the analogy of Karnataka and Andhra Pradesh would be considered with a positive frame of work as there was sound reasoning behind this because the tax advocates being well versed with the financial matters of dealers and regularly compile their reports and file timely returns.

Rather sought active involvement of intelligentsia and civil society to bringing awareness among the society particularly among business community to be concerned about the revenue interests of the State as revenue mobilization was imperative for the developmental march of the State. The traders and businessman should isolate such elements who indulged in tax violations, Mr. Rather advised.

The government was represented the Economic Advisor Mr. Jalil Ahmed Khan, Financial Commissioner Finance Mr. Iqbal Khandey, Commissioner Commercial Taxes, Kifayat Hussain Rizvi, Special Secretary Finance Mr. Zubair Ahmed, Deputy Commissioner, Commercial Taxes (HQ) Mr. Showkat Aijaz, Secretary J&K Kissan Board Welfare, Mr. G.A. Mir and Dy. Commissioner Commercial Taxes (Audit) Mrs. Anoo Malhotra, and DC Commercial Taxes (Executive), Mrs. Anuradha whereas intelligtsia  and tax bar was represented by the Chairman, State Committee, J&K PHDCCI, Mr. Vikrant Kushalia, Assistant Professor Commerce, Prof Tarsem Lal, Assistant Prof department of Economic, Mr. Manoj Bhat, Dean, Management Jammu University, Prof, Bandhari, Advocate, President Tax bar Association, V.K Grover, General Secretary Tax Bar Association, Vikas Chopra,  Prof Businessman school, Prof Mehta, Jammu University and Corporate lawyers, J&K High Court, Advocate B. B. Bakshi.

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