Srinagar, Sep 24: The Kashmir Chamber of Commerce and Industry today hailed the deferment of new VAT return form by the government.  In a statement here today the KCCI said its president Nazir A Dar pointed out difficulties the traders could face by filing the new VAT return form. Speaking at a high level meeting today chaired by Finance Minister Abdul Rahim Rather, Dar also pointed out that at present two different sets for VAT forms were being used in the state. “The VAT form used at Jammu is quite different from the one that is used in Kashmir,” Dar said, adding that entire state should have only one form.
 Meanwhile, the Federation Chamber of Industries Kashmir (FCIK) also hailed the deferment of the proposed new VAT return form that was scheduled to come into force from 2nd Quarter of the current financial year.  The decision to defer the introduction of the new VAT return form was today taken at a high level meeting which was chaired by Finance Minister Abdul Rahim Rather. Nazir Ahmad Shikari Secretary General (FCIK) attended the meeting on behalf of the industrial fraternity of Kashmir region.  Shikari thanked the FM on behalf of the industrial fraternity and hailed him for “appreciating the difficulties and hardships the dealers could face in the event the form would have been put to use.” Shikari said the new VAT form had become a cause of worry for the traders and industry people and it was opposed by all the trade associations tooth and nail.

Lastupdate on : Sat, 24 Sep 2011 21:30:00 Makkah time
Lastupdate on : Sat, 24 Sep 2011 18:30:00 GMT
Lastupdate on : Sun, 25 Sep 2011 00:00:00 IST