Due to political hiccups, ‘clouds’ on GST implementation in J&K: Jammu Chamber

Jammu, Aug 14 :  The traders of Jammu under the banner of Chamber of Commerce and Industry today expressed concern over problems being faced by their community after implementation of Goods and Service Tax in the state of Jammu and Kashmir. "The last date to file GST- R 3B should be extended besides the migration date from VAT to GST," Rakesh Gupta, President CCI Jammu here today said. He said that the rest of India has started gearing up to switch over to the GST regime since September last year but because of political problems uncertainty prevailed in J&K. "It was only after the notification on July 8 the process of awareness campaigns and the migration from VAT to GST started,’’ he said adding, ‘’the migration process from VAT to GST is still going on and large number of assesses are still to do the same.’’ Mr Gupta further said that the notification for special incentives to the Industrialists in the State of J&K has yet to be issued by both Govt of India and the State Government which were available under the VAT regime, in the absence of which Industrialists shall not be in a position to file any such returns. "We will be thankful if the notification for the extension in the date of filling GST-R 3B and the migration date be extended by at least one month,’’ said the Chamber Head. He said that a communication has also been sent to Jammu and Kashmir Finance Minister Dr Haseeb A Drabu, and Commissioner Commercial Taxes J&K with a request that the last VAT Return from July 1 to July 7 should be necessarily filed by the assesses at an early date so that the benefit of claiming input credit on closing stock is allowed but there is utter confusion regarding filling date of such returns. UNI