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| J&K realizes highest VAT revenue in country: Rather | | Lays foundation stone of building for ICAI | | Early Times Report
JAMMU, Feb 20: Eulogizing the contribution of Chartered Accounts in banking, corporate financial management and tax administration, the Minister for Finance, Abdul Rahim Rather today said their professional advice and expert role in formulation of policies, legislation and standardization and improvements in accounting practices are indispensable for governance in these areas.
Speaking to a distinguished gathering of chartered accountants, at foundation stone laying ceremony of a building for Jammu and Kashmir branch of Institute of Chattered Accounts of India (ICAI) here this morning, Rather said J&K is regular beneficiary of the contribution of Chartered Accountants in updating of audited balance sheets of its public sector undertaking (PSUs) and their help in our VAT administration adding that much needed facility of a building for the Institute of Chartered Accounts of India at Jammu shall prove beneficial for the local youth to venture in the field of Chartered Accountancy and updating the knowledge and the acumen of its members.
Extending best wishes to the ICAI and NIRC, the 2nd largest accounting body in the World, in seeing much greater heights in their profession, which he described sacred and credible profession, the Minister also wished the J&K Brach of prosperous and fulfilling future so that promising locals who want to update their knowledge could be benefited by this facility at their door-steps.
On the occasion, Rather expressed deep respect to the visionary leaders of our country who conceived of the Chartered Accountants Act 1949 soon after the independence.
Rather said the State Finance department is continuously and comprehensively reviewing its fiscal updates, by virtue of which the State's VAT has increased to about 41%, which is highest in the country. Besides, Economic Advisor to J&K Government, Jalil Ahmad Khan, who was Guest of the Honour, Vice President ICIA, CA. Subodh K. Agrawal Chairman, NIRC, CA. Rajesh Sharma, Convener land and Building Committee, CA. R. K Gupta and Chairman, J&K Branch of ICAI, CA. Ajay Sawhney were also present on the occasion. |
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