State Taxes Deptt holds meet with Kashmir trade & industry federations

SRINAGAR, JULY 7: An interactive session was today organized by the Department of State Taxes with various Trade and Industrial Federations, including the Federation Chamber of Industries Kashmir (FCIK) of Kashmir division at Excise and Taxation Complex Solina, here.

The interaction marked the completion of 5 years of the Goods and Services Tax in the UT of J&K.

The Commissioner, Dr. Rashmi Singh who chaired the session elaborated on the achievements of the GST regime highlighting the increase in revenue collections and compliance and enjoined upon all bodies to enhance registrations of tax payers and ensure compliances under filing of GST returns.

The Trade bodies and Industrialists thanked the department in organizing such sessions whereby they could clarify many operational issues, get all relevant updates and also offer their suggestions for the policy domain in order to facilitate trade further.

The session was also attended by Deputy Commissioner, CGST Danish Singh, who apprised regarding functioning of CGST set up in Kashmir division.

FCIK team was led by President Shahid Kamili and Ovees Qadir Jamie Secretary General & Daniyal Qureshi Secretary FCIK.

FCIK Secretary General Ovees Qadir Jamie said a review of all GST regulation and taxation policies concerning to MSMEs needs to be initiated in due consultation of stakeholders.

He further said “a clean slate for VAT regime should be provided as the benefits of tax exemption were being extended to the industry and no tax was collected by them. Before introduction of GST regime, industry was promised of a clean slate for VAT regime. Moreover, Amnesty in renewal of all obligatory certificates be announced and any penalty for any default be waived off. Moreover, all disputes of pre GST i.e. may be in terms of non-filling of returns under the VAT Regime must be put under amnesty & penalties, interest levied by the State Tax Department should be withdrawn. The VAT arrears should be granted amnesty so that all registered Units will be out of this stress. Further, Amnesty for all defaults for the pre GST period be announced and any recovery process in this regard should be dropped till March 2023.”

Mr Jamie said a mechanism for the reimbursement of SGST should be made, so the tax amount should be set off without depositing the amount in cash and should be setoff for SGST reimbursement portion amount. As on date there is procedural wrangling in getting SGST reimbursement remission and it must be refunded on auto mode without physical submission of documents and inspection by the officers to the units as department is claiming face less transaction but on ground it is not operational.

Mr Jamie also demanded constituting of committee and FCIK being a committee member for redressal of GST issues and it was agreed by the Dr Rashmi Singh (IAS) Commissioner State Taxes Department to frame a committee and FCIK will be as a committee member which will draft GST issues pertaining to Industrial sector & its redressal.

Manzoor Ahmad Bhat, Additional Commissioner, State Taxes (Adm & Ent) Kashmir gave welcome address. Waseem Raja Assistant Commissioner State Taxes (Technical) J&K gave a technical presentation on the occasion.

At the end, Shakeel Maqbool, Deputy Commissioner, State Taxes (Recovery) Kashmir presented a vote of thanks to all participants.