J&K SAC approves extension in amnesty scheme upto March 31
Jammu, Mar 8 (UNI): The State Administrative Council which met here on Friday under the chairmanship of Governor, Satya Pal Malik accorded sanction to the extension of date of depositing of second installment of arrears of Old Tax regime under amnesty scheme for streamlining the implementation of Goods and Services Tax upto March 31, 2019.
The amnesty scheme announced by the Government in February, 2018, in addition to various other provisions, provides for 100 per cent remission of penalty and interest on arrears of tax for dealers under the provisions of J&K VAT Act, 2005 (now repealed) and J&K Sales Tax Act, 1962.
As per the provisions of the scheme, it is mandatory for the dealers to pay the arrears, assessed/re-assessed /admitted up to the accounting year 2016-17 in three equal installments. The due date for depositing of second installment expired on January 31, 2019.
On the request from various stake holders, the Government has decided to extend the date of depositing of second installment up to March 31, 2019, so that the inconvenience faced by the dealers in depositing their installment is addressed.
It may be mentioned that the second installment was due from 2001 dealers, out of which 817 dealers have deposited it.
Image: News Odisha/Twitter
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