JAMMU, Nov 08: Chamber President Sh. Rakesh Gupta called on the Finance Minister Dr. Haseeb A Drabu in his office chambers at Civil Secretariat Jammu on Tuesday. At the outset Chamber President welcomed the government to the Winter Capital and also voiced concern about the many pending issues which could not be sorted out because of the turmoil in the Kashmir Valley for the last four months.
The Chamber President thanked the Finance Minister for granting extension in filing of VAT returns for the first quarter 2016 upto 30th November 2016 and 2nd quarter 2016 upto 31st December 2016. The Chamber President also urged the Finance Minister to condone the delay period of deposit of VAT for the first and the second quarter 2016 through amnesty to be passed in the assembly.
Also threadbare discussions on implementation of GST were held. The Chamber requested the Finance Minister to bring clarity as to what goods shall fall under different percentage of tax under the GST regime. Chamber President strongly advocated the exemptions and incentives to the Industries in the State of J&K to be given under the GST regime also. It was also decided that the department shall provide facility on regular basis for training as to how to file returns under GST to the Traders, Industrialists, Chartered Accountants and Accountants etc. Chamber also raised the demand that the bank accounts need to be restructured which got badly hit because of the turmoil in the Valley. It was also requested to the Finance Minister provide full support to the Transport / Hoteliers which had been badly hit for the last four months because of the turmoil. The Finance Minister assured full cooperation to the trade, Industry, Transport and Tourism Sector.
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