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| Tax defaulters get relief, amnesty deadline extended | | | ET REPORTER
Jammu, Aug 7: In a major relief to the tax defaulters and other bona-fide payers, the government today extended the amnesty scheme till September 6.
The amnesty came into force with effect from May 7, 2007 for a period of six months with a condition that the traders and industrial units fulfil the requisite formalities within a month in case of traders and three months in case of industry respectively. There had been demands for extension of this period both in the industry and trade.
In order to sort out the problem once for all, Finance Minister announced today that the period for filling the documents along-with the tax instalments would be extended upto 6th of September 2007 for both trade and industry.
A deputation of Trade, Commerce and Industry Kashmir comprising of President federation of Commerce and Industry Kashmir Mr. Shakeel Qalander, President Kashmir Chamber of Commerce and Industry Mr. Mubin Shah, vice President Federation Commerce and Industry Kashmir Mr. Iqbal Tramboo and General Secretary Federation of commerce and Industry Kashmir Mr. Afaq Qadri today called on Minister for Finance, Planning, Laws and Parliamentary Affairs Mr. Tariq Hameed Karra and sought extension of time frame for qualifying period of Tax Amnesty.
The Minister gave them patient hearing and assured that the period for filling the documents along with the tax installments would be extended upto 6th of September 2007 for both Trade and Industry.
It may be recalled that the Finance Minister in the budge speech had announced a scheme of giving amnesty to the traders for last time as a measure to come up with a clean slate so that major tax reforms in the form of VAT is implemented in hassle free manner. Similarly industrial units which were assessed to tax on account of technical default or violation of the provisions of the act were also given a final chance to avail amnesty.
However, he made it clear that this would be the last chance for giving the amnesty. He said, soon after the amnesty period is over, the stat Government shall move a bill in the legislature to amend the Act so as to remove the existing provision per se, that allows amnesty. He appealed all trade and industrialists to avail the last chance and fulfill the required provisions in a stipulated time period
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