| TBA delegation calls on Vyas, proposes changes in tax laws | | |
EARLY TIMES REPORT
JAMMU, Feb 25: A delegation of Tax Bar Association (TBA) called on Principal Secretary to Government, Finance Department B B Vyas and made suggestions for introducing changes in tax laws in the coming budget session.
The delegation was led by TBA President Advocate V.K Grover, Senior Vice-President Advocate Satish Gupta, Vice-President Sourav Mahajan, General Secretary Advocate Vikas Chopra, Jt. Secretary Advocate Vikram Dubey and senior Advocates Krishan C. Gupta and Monika Gupta. During the meeting it was emphasized by Grover that with a view to remove anomalies in VAT, GST & Entry Tax statutes and rules framed there under, generation of more revenue, less harassment to the dealers and economic burden on general public, expeditious disposal of cases, reduction in corruption level and building confidence in investors across the county to invest in our state many amendments were proposed in Tax Statutes. Grover pleaded for changing the law of penalty during import of goods which is minimum 25% of the value of goods and is irrational, oppressive and unreasonable. Moreover, this is in contradiction to the other similar provisions where the minimum penalty is only double the amount of tax involved. While in the former case it amounts to five times in case of commodities attracting 5% rate of tax and 25 times in case of commodities attracting 1% rate of tax like Gold, precious stones and Bullions. Tax Bar also suggested to amend Section 31 of the J&K VAT Act, 2005 by lifting the embargo vis-a-vis time limit of filing revised return which is presently only till six months from the end of financial year. It was proposed to upgrade the Appellate Authority to the rank of Commissioner (Appeals) under the Act, make it an independent body and bring it under the control of law department so that the faith of public is restored in the judicial system. Grover requested the Principal Secretary to earmark some funds in the budget for the welfare and development of TBA and also for making arrangement of car parking exclusively for advocates on the pattern of High Court and District Courts. After listening the proposals of the delegation, Vyas assured to take appropriate action in all such matters. |
|
