The Kashmir Chamber of Commerce and Industry on Thursday welcomed the State Administrative Council (SAC) decision to waive off the tax liability on account of stocks destroyed in the September, 2014 Floods.
A statement issued by the KCCI said, "The decision has taken a heavy load off the shoulders of dealers who were affected by the floods. It would be our responsibility to thank the people who understood and supported the case of these dealers." KCCI thanked the commercial tax department officials and principal secretary finance for providing the support to the amnesty proposal of the chamber.
The chamber also expressed their gratitude to Governor Satya Pal Malik, his advisors and chief secretary for the settlement of the issue which had been "unduly delayed" due to various reasons.
The KCCI would also draw the attention of all the dealers who have unresolved issues of VAT regime and who have been granted a final opportunity to settle the same under the Amnesty Scheme. Under the last extension issued by the government vide Order No. 485-FD dated 14th of November, 2018, the last date for submission of Ist Installment is 14th of December, 2018 and in this regard we would again request the dealers to ensure that this opportunity is availed by them without fail.