In order to resolve the pending issues in old tax regime, Jammu & Kashmir government has extended the amnesty scheme. This would therefore help in better execution of GST.
The amnesty scheme will now be available upto June 30,2020.
This opportunity is no less than a boon for the dealers who could not avail the said benefit earlier announced in 2018. But they need to make sure that they pay the admitted, assessed and reassessed principal tax upto June 30,2020.
Even the dealers who had applied for the scheme earlier but could not avail the benefits owing to reasons like failure to deposit the tax and not meeting the deadline, can now avail this benefit.
The scheme also provides full waiver of interest and penalty under Jammu & Kashmir Value Added Tax Act or General Sales Tax Act.
In case the issue is lying in appeal under any forum, the dealer needs to withdraw the same and submit a proof in this regard along with proof of payment of tax upto 30th June,2020.
And the period covered under this scheme is upto 7th July,2017.