: Bar Association urges Govt to announce Tax Amnesty Scheme #IndiaNEWS #State Excelsior Correspondent JAMMU, Sept 5: Tax Bar Association Jammu, under the leadership of its president Advocate Rakesh

Bar Association urges Govt to announce Tax Amnesty Scheme #IndiaNEWS #State
Excelsior Correspondent
JAMMU, Sept 5: Tax Bar Association Jammu, under the leadership of its president Advocate Rakesh Kapahi, has urged upon the Government of Jammu and Kashmir to announce Tax Amnesty Scheme for the one time settlement of all the pending disputes, arrears, appeals, litigations and recovery under pre GST regime.
According to Rakesh Kapahi, the Bar Association has already sent detailed representation in this regard but there was no response by the administration. He urged the administration to kindly pay attention to the burning issue which is more related to the Government and traders mutually. He said that GST regime has replaced the plethora of Indirect Taxes levied by State and the Central Government, however, there is a huge backlog of appeals, litigations and recovery are pending which now has a dual negative impact. On one hand there is a working capital blockage as well as increasing cost of litigation in the hands of the taxpayer and on the other hand, thousands of crores of revenue in taxes are blocked for the State and the Centre, he explained.
Kapahi added that the announcement for the tax amnesty scheme will definitely settle all pending disputes and it will benefit Government as well as Traders mutually because traders will get relief from penalty and interest and on the other hand Government will get more revenue. He further added that the earlier tax amnesty scheme does not give desired result to the State Government and relief to the taxpayer due to COVID-19 pandemic and lockdown.
An Amnesty Scheme should be introduced to clear pending dues with partial relief in tax payable and full relief from interest, penalty and late fees if any under the pre GST Indirect Tax regime, he said.
Tax Bar Association also appealed to Chamber of Commerce and Industry and all the trader associations to come forward for the cause of traders and industrialists and raise their voice for the announcement of new Tax Amnesty Scheme.
President of the Bar Association has been joined by his team, comprising Senior Vice President, Advocate Vikram Dubey, Junior Vice President, Advocate Renu Verma, General Secretary Dheeraj Bhasin and Joint Secretary -Cum- Treasurer Advocate Ishant Gupta in making appeal in this regard to the Lt Governor Manoj Sinha.
The post Bar Association urges Govt to announce Tax Amnesty Scheme appeared first on Jammu Kashmir Latest News | Tourism | Breaking News J&K.

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