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| TBA demands deferring penalty provision of VAT Act | | | JAMMU, MAR 5
Commercial Tax authorities and Tax Bar Association (TBA) in a joint meeting held at Excise and Taxation Complex here and presided over by the Commissioner Taxes reviewed the Value Added Tax Act and Rules 2005 being implemented in the state since 2005.
The meeting had a threadbare discussion on various problems being faced by the assesses and various suggestions regarding amendments in VAT Act and Vat Rules were proposed by the Tax Bar Association, represented by its President Rattan Lal Gupta.. Bar Association also recommended that the penalty provision in the VAT Act should not be imposed this year as it was a new Act and is not much understood by the assesses.
After day long deliberations, the Commercial Tax authorities are reported to have appreciated the suggestions put forth by the Association and assured that the matter would be taken up with the Government, Tax Bar Association handout claimed.
Additional Commissioners of Commercial Taxes, Deputy Commissioner, Tax Bar office bearers and its members attended the meeting
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