Govt approves amnesty for settlement of issues under Old Tax Regime
Jammu: As a follow up to the announcements made by Finance Minister, Dr Haseeb Drabu in the Budget 2018-19, the State Government has approved Grant of Amnesty for settlement of unresolved issues in the old Tax regime for smooth implementation of Goods & Services Tax (GST).
According to the Order No: 39-FD of 2018 dated: 05-02-2018 issued by Principal Secretary Finance, Mr Navin Kumar Choudhary sanction has been accorded to remission of penalty and the interest on arrears of tax under the provisions of Jammu and Kashmir Value Added Tax, 2005 (now repealed), as per the scheme.
Besides, the order also includes settlement of cases of industrial units, where demands have been created by disallowing remission, remission of penalty and the interest on arrears of tax under the provisions of Jammu and Kashmir General Sales Tax Act 1962, settlement of cases of industrial units, where demands have been created by disallowing exemption and remission of penalty and the interest on arrears of tax in respect of Telecom Operators under the provisions of Jammu and Kashmir General Sales Tax Act, 1962, as per the scheme.
The details of the scheme including procedure for availing the amnesty, is available on jakfinance.nic.in.
KV Correspondent
