KTA welcomes Amnesty

Srinagar, Dec 27: Kashmir Trade Alliance (KTA) has expressed its heartfelt appreciation to the Administrative Council for greenlighting an amnesty scheme aimed at settling assessed and reassessed demands against business establishments from the VAT regime era.

In a statement, Aijaz Shahdhar, President of KTA, conveyed his gratitude, extending thanks to Lieutenant Governor Manoj Sinha and other members of the Administrative Council for addressing a longstanding demand, particularly from the KTA. He underscored the importance of the approved amnesty, noting that it provides a clean slate to the business community concerning the pre-GST regime. This is especially relevant to the period when businesses were exempted from Value Added Tax (VAT) payments under the remission mechanism.

Shahdhar credited Lieutenant Governor Manoj Sinha and Chief Secretary Atal Duloo for this positive development. The decision is anticipated to bring relief to the Kashmir business fraternity, which has been adversely affected by the burden of unfounded demands and assessments.