Valleys apex business body, the Kashmir Chamber of Commerce and Industry today ticked off the government for amending the Value Added Tax.
President KCCI told Greater Kashmir that the amendments made in the Act provide for submission of quarterly as well as annual VAT returns by all types of assessees.
He said by virtue of these amendments the return forms have been made quite complex. The taxpayers would find it very difficult to fill in the forms, he said.
Terming the amendments as uncalled for and illogical he said: We fail to understand what prompted the state government to make these amendments as they will neither help it generate additional revenues nor ensure effective and hassle free assessments.
Meanwhile, the chamber has appealed to State Finance Minister to intervene in the issue. We request the minister to keep the amendments to VAT and VAT Return Forms in abeyance till deliberations with the stakeholders are held to find out an acceptable solution.