SRINAGAR: Kashmir Economic Alliance has called for extension of amnesty scheme for clearance of the arrears on account of Sales Tax and VAT against the traders, business establishments and Industrial Units pending within the Commercial Taxes Department now the State Taxes Department.
Vice Chairman Aijaz Shahdhar in a statement has stated that it is a fact of common knowledge that due to unforeseen events since August, 2019 and subsequently covid pandemic which resulted in continuous lock down, has hit the business, trade as well as industrial fraternity terribly. There are some “illogical” arrears on account of Sales Tax & VAT against the traders, business establishments and Industrial Units in the records of Commercial Taxes Department now the State Taxes Department. In order to get rid of this scenario, the Government has extended the benefits of amnesty already announced vide Government order No: 39-F of 2018 dated: 05/02/2018, through the medium of Government order No: 64-2020 dated: 26/02/2020.
The Industrial as well as trade fraternity was about to avail this amnesty, but due to covid lock down, they could not be able to avail benefits as envisaged in the Government notification.
Therefore, it would be in the fitness of things and in the interest of Industries as well as trade fraternity to extend the cut of date of amnesty which is at present upto 30/06/2020, upto end of financial year 2020-21 so that every trader who is involved in arrears or any technical default, can avail of the benefits of the amnesty.

KR Desk