Demanding complete withdrawal of new VAT return form,
the Kashmir Traders and Manufacturers’ Federation has said they were not
satisfied with its ‘suspension for the time being’.
“Although the government has ordered the suspension of
the new VAT return form for this quarter and allowed the traders to file the
return on the previous form, that is not going to solve our problem,” said KTMF
president Muhammad Yaseen Khan.
He said the traders cannot fill up and submit the 7-page
form “because it is too complicated.”
“Majority of traders are uneducated. They won’t be in a
position to fill up the form unless they have services of trained accountant and
computer system with them,” Khan said.
He said the traders in Punjab had also raised their
voice against this form in their state.
Interestingly, the traders have been agitating against
the introduction of the new VAT return form for the last couple of months. All
the traders and manufactures’ bodies in the Valley are demanding its complete
withdrawal.
To mention, the Finance Department has issued a
notification suspending the new VAT return form for this quarter. The
notification reads, “The amendment carried out in rule 28 of the J&K Value added
Tax Rules, 2005, vide notification SRO 68 read with SRO 117 with the exception
of sub rule (4) and sub rule (9) of the said rule, shall and shall always be
deemed to have come into force from the second quarter of the financial year
2011-12”.
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