Srinagar, Apr 29: The Associated Chamber of Commerce and Industries Kashmir (CCIK) has flayed the Commercial Tax Department for reframing the VAT return form, saying it would create inconvenience for the traders.  At a meeting here, the CCIK members expressed their concern over the reframing of the VAT return form by the department.
 The members said the form which consists of seven pages requires “huge documentation to be attached with it by the traders.”
 “It is quite strange when the tax procedure all over India is being made simple and assessee-friendly, the VAT return form in Kashmir has been made complex and complicated.”
 The members said the new format requires a trader to append documents like VAT-11G for detailed statement of local sales, VAT-11H for detailed statement of local purchases, VAT-111 for detailed statement of interstate sales and purchases, etc.”This members appealed the Commercial Taxes Department to withdraw the new format and switch over to the system that was prevalent in the state.
 The members alleged that returns were not being accepted “if a small discrepancy is found which causes a great inconvenience to the dealer.”The members suggested that quarterly returns should be accepted by the department and “if any shortage is found the trader should be given an opportunity to rectify it within a stipulated time period and should not be summarily rejected.”
 The members alleged that penalties were being levied without giving notice to the traders. “This needs to be corrected so as a trader is spared from penalty.”

Lastupdate on : Fri, 29 Apr 2011 21:30:00 Makkah time
Lastupdate on : Fri, 29 Apr 2011 18:30:00 GMT
Lastupdate on : Sat, 30 Apr 2011 00:00:00 IST