Srinagar, March 09 : Kashmir Chamber of Commerce & Industry (Inc) Saturday appreciated the decision of State Administrative Council (SAC) regarding extension of date of submission of 2nd installment under the Amnesty Scheme for settlement of Tax Arrears. In a statement issued to KPS, the spokesman of KCC&I said that mention needs to be made of the personal efforts put in by K.K. Sharma, Advisor to Governor, B.V. R. Subrahmanyam, IAS, Chief Secretary, J&K, Navin Kumar Choudhary, Principal Secretary to the Government, Arun Kumar Mehta, IAS, Principal Secretary to Government, Finance Department, P. K. Bhat, Commissioner Commercial Taxes, Government of J&K and other officials of Finance Department, J&K. Dr. A.M. Mir, Jr. Vice President, KCC&I said that “while we appreciated the extension of time given but the present stressed condition of dealers needed to be assessed.” “The 1st installment having being deposited in December, 2018 by around two thousand dealers but not even half of them were in a position to deposit the 2nd installment in January, 2019. This clearly demonstrates the incapacity of dealers, even though willing, to settle their outstanding taxes,” he said. Being aware of this situation, the Kashmir Chamber of Commerce & Industry had requested that the date of submission of 2nd installment be extended upto 31st of July, 2019. “The SAC has in its wisdom decided to extend it only upto 31st March, 2019. We still believe that this needs to be extended to 31st July, 2019 as the financial position of dealers is unlikely to improve in March, because of the lean winter season and disturbed situation in the valley,” he said.
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