KCCI, JCCI delegation calls on Drabu;Take up issue regarding SROs on filing VAT returns, paying taxes online

 STATE TIMES NEWS
JAMMU: A joint delegation of Kashmir Chamber of Commerce and Industry (KCCI) and Jammu Chamber of Commerce and Industry (JCCI) comprising President, KCCI, Mushtaq Ahmad Wani, President JCCI, Rakesh Gupta and Secretary General, Faiz Ahmad Bakshi met Finance Minister, Haseeb Drabu and discussed the SROs issued in the context with online filing of VAT returns and online payment of taxes. Among other issues raised included the rationalisation of taxes, interest subvention on Prime Minister’s Flood Package, GST regime, negative behaviour of Commercial Taxes Department, roll back of increased VAT on consumables like, service tax on advertising companies, toll tax after 5 per cent excess allowed under the Motor Vehicle Act, mechanism to get rid of the under value system adopted at Lakhanpur, enhancement in limit for composite tax for small traders, and service tax on contract labourers. Drabu agreed to maintain the existing rule of filing of online return and payment of taxes above the turnover of Rs. 50 lakh. He also agreed that he will issue necessary SROs in coming days about rollback of taxes on consumables and other issues discussed in the meeting. The minister agreed to issue SRO for charging 14.5 per cent instead of 13.5 per cent with effect from 1st July 2016. He assured that interest subventions for flood affected traders will definitely be released before Eid. The minister assured that he will resolve the long standing matter of seven per cent interest subsidy under Prime Minister’s Rehabilitation Scheme of 2004 which has not been paid to the borrower hotel Industry since 2008 though the same had been received from the Central Government but diverted by the Department of Tourism. He added that the government in association with KCCI and JCCI will conduct free training programmes to educate the tax payers as and when GST regime will be implemented.