ZT News Network
Srinagar: The Kashmir Chamber of Commerce and Industry today urged the J&K Government for extension of the VAT Amnesty Scheme for another one year.
“The situation emerging after August, 2019 onwards has gone from bad to worse due to the COVID-19 pandemic and our economy is the worst hit due to the stress”, KCCI spokesperson said in a statement received by Ziraat Times.
“KCCI urges the Government to look the prevailing economic situation and with experts predicting a period of deep recession, we feel that our suggestion is based on a practical appraisal and would also be in public interest”, the statement added.
“It is not out of place to mention here that most of the dealers/ traders and Companies in Jammu & Kashmir are not in a position to file for GSTR-9 and GST-9C returns for the financial year 2018-19, we request Government to intervene for further extension of the above said filling returns”, the statement said.
KCCI, therefore, urges the Government to look into the matter of Fiscal Incentives to manufacturing Industry in Jammu & Kashmir to ensure uniform disbursal of the incentives and benefits, the spokesperson said.