Announcing the decision at a joint meeting of the representatives of traders and industry bodies and senior government functionaries today, Finance Minister Abdul Rahim Rather said the deferment of the new VAT form would provide an opportunity to the traders to prepare themselves for this change (switching over to the new form).

Rather said the government always wants cordial relations with traders and industrialists and every possible measure is being taken to remove hardships and hassles being faced by the traders.

He said the computerization of Commercial Taxes Department was a step in this direction.

The minister while underscoring the relevance of the computerization in the Commercial Taxes Department emphasized that it would facilitate e-filing of returns, e-payments and ensure online availability of statutory forms like “C” forms, etc.

He said this would remove direct interface of traders with the departmental functionaries. “The computerization of Commercial Taxes Department shall bring in transparency in the functioning of the department,” he said.

From the traders side present in the meeting were about 30 members.

Rather also apprised the members of Trade and Industry about the proposed Goods and Services Tax regime (GST) which is on the anvil and is to be implemented throughout the country in the near future.

He assured the members that before implementation of the GST, the Trading fraternity and representatives of industry shall be taken into confidence and their suggestions shall be brought to the notice of Empowered Committee of State Finance Ministers.

He said the government is concerned about the welfare of the traders’ fraternity and shall take all possible steps to remove the bottle necks being faced by them.

Source: GreaterKashmir.com (press release), India,  dated 24/09/2011