KCCI hails govt decision on extending amnesty for pending issues under old tax regime

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SRINAGAR: President Kashmir Chamber of Commerce & Industry, Javid Ahmad Tenga has appreciated and welcomed Finance Minister, Syed Altaf Bukhari’s ‘well considered’ decision regarding extending the amnesty granted under Govt. Order No: 39-FD of 2018 by 45 days.
The KCCI, however, holds the view that though the extension thus granted “gives a short time relief to the trader community in general and is going to have some positive effect on our economic activity”, there was much more needed and expected to be done regarding tax liability on account of goods destroyed in 2014-floods in terms of the relevant SRO:396 Dated:4th October, 2014 as demanded through a memorandum presented by the chamber delegation to the finance minister in a meeting held on Tuesday, a statement issued here read.
The KCCI appealed the finance minister to “issue necessary directions to the concerned department that the relevant SRO is implemented in letter and spirit to mitigate the hardship faced by the trader community”, the statement added.