Kashmir Inc opposes amendments to VAT

GK NEWS NETWORK

Srinagar, Apr 14: Valley’s apex business body, the Kashmir Chamber of Commerce and Industry today ticked off the government for “amending the Value Added Tax.”
 President KCCI told Greater Kashmir that the amendments made in the Act provide for submission of quarterly as well as annual VAT returns by all types of assessees.”
 He said by virtue of these amendments the ‘return forms’ have been made quite complex. “The taxpayers would find it very difficult to fill in the forms,” he said.
 Terming the amendments as “uncalled for” and “illogical” he said: “We fail to understand what prompted the state government to make these amendments as they will neither help it generate additional revenues nor ensure effective and hassle free assessments.”
 Meanwhile, the chamber has appealed to State Finance Minister to intervene in the issue. “We request the minister to keep the amendments to VAT and VAT Return Forms in abeyance till deliberations with the stakeholders are held to find out an acceptable solution.” 

Lastupdate on : Thu, 14 Apr 2011 21:30:00 Makkah time
Lastupdate on : Thu, 14 Apr 2011 18:30:00 GMT
Lastupdate on : Fri, 15 Apr 2011 00:00:00 IST



  • del.icio.us
  • StumbleUpon
  • Digg
  • TwitThis
  • Mixx
  • Technorati
  • Facebook
  • NewsVine
  • Reddit
  • Google
  • LinkedIn
  • YahooMyWeb
  • Print News
  • YahooMyWeb

Code Image  Load New Code
Enter the Security code exactly as you see it in the image security code is CaSe SeNsItIvE(Cookies must be enabled)
  • MORE FROM BUSINESS

  • Kashmir

GB Panth renovation makes patients suffer

DUST, NO VENTILATION LEADS TO RESPIRATORY, SKIN PROBLEMS

ARSHAD M BHAT

Srinagar, Apr 14: Patients admitted in Valley’s only children healthcare institute, G B Panth hospital have developed respiratory and skin problems due to the dust emanating from the ongoing renovation More


  • Srinagar City

Low lying manhole at tourist hub

Residents adopt novel way to protest

‘FIRST IMPRESSION OF UEED TOWARDS MANKIND—GORGE FOR DEATH’

GK NEWS NETWORK Srinagar, Apr 14: Irked by inaction of the authorities to repair a low-lying manhole which has led to many accidents to motorists, the residents of tourist hub of Dalgate have adopted a More



  • Jammu

IGP inaugurates sports festival

Jammu, Apr 14: The IGP Kashmir, S M Sahai, Thursday declared the north Kashmir Indoor sports festival open. The ceremony was held at Indoor Sports Stadium Baramulla. DIG Baramulla, DIG CRPF, CO 46 More


  • Briefs

Rs 45 lakh given to fishermen

Bandipora: District Development Commissioner Bandipora, Manzoor Ahmed Lone today distributed cheques worth Rs 45 lakh among the registered fishermen here. The funds were distributed under central More


  • Business

6 yrs on, 70 pc PMRP funds unspent

Of Rs 32200 cr allocation, Rs 10,000 cr utilized

MUDDASIR ALI

Srinagar, Apr 14: Even as the revised cost of Prime Minister’s Reconstruction Program for Jammu and Kashmir has escalated to around Rs 32,000 crore, the spending has been just 30 per cent for the past More


  • News

China backs India's 'aspiration' for greater role in UN

AJAY KAUL/PTI

Sanya (China), Apr 14: China today recorded its recognition of India's "status" in global affairs and said it "supports" its "aspiration" to play a greater role in the world body, a nuanced expression More


ADD
Designed Developed and Maintaned By Imobisoft Ltd /Algosol Software Solutions