Kashmir Inc Urges Extension Of VAT Amnesty Scheme

Srinagar: The Kashmir Chamber of Commerce and Industry (KCC&I) on Thursday urged Jammu and Kashmir government to extend VAT amnesty scheme for another one year citing the situation caused by coronavirus pandemic.

In a statement issued here on Thursday, a KCC&I spokesperson said that the situation emerging after August, 2019 onwards has gone from bad to worse due to the COVID-19 pandemic and the economy is the worst hit due to the stress.

“KCC&I urges the Government to look the prevailing economic situation and with experts predicting a period of deep recession, we feel that our suggestion is based on a practical appraisal and would also be in public interest,” he said.

He said most of the dealers, traders and companies in Jammu & Kashmir were not in a position to file for GSTR-9 and GST-9C returns for the financial year 2018-19,

“We request the Government to intervene for further extension of the above said filing returns. KCC&I urges the Government to look into the matter of Fiscal Incentives to manufacturing Industry in Jammu & Kashmir to ensure uniform disbursal of the incentives and benefits,” the spokesperson added.

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