Jammu & Kashmir govt defers introduction of new VAT
return forms
The Jammu and Kashmir government has decided to defer
the introduction of new computer-compatible VAT return
forms till further orders, State Finance Minister Abdul
Rahim Rather said.
"The introduction of new VAT return forms, which are
computer compatible and trader-friendly, has been
delayed to give some time to the traders, so that they
should prepare themselves for adoption of the new form,"
Finance Minister Abdul Rahim Rather said at a joint
meeting between traders'' representatives and officials
of the finance department here yesterday.
Rather said the new form shall have to be adopted sooner or
later, while emphasising on the need for computerisation of the Commercial Taxes
Department.
"It would facilitate e-filing of returns, e-payments and ensure online
availability of statutory forms like ''C'' forms, thereby removing direct
interface of traders with the departmental functionaries," he said.
The minister said the computerisation of Commercial Taxes Department will bring
in transparency in the functioning of the department.
Rather said before the proposed Goods and Services Tax (GST) is implemented, the
traders'' fraternity and representatives of industry shall be taken into
confidence and their suggestions shall be brought to the notice of the Empowered
Committee of State Finance Ministers.
