Excelsior Correspondent
JAMMU, Feb 11: A delegation of PHD Chamber of Commerce and Industry-Kashmir (KI) led by its chairman, Baldev Singh Raina along with Bilal Ahmad Kawoosa Expert Committee chairman and other members had a meeting with Dr Arun Kumar Mehta, Principal Secretary Finance today.
The delegation apprised the officials about various issues relating to the Automobile industry, RBI Rehabilitation package for borrowers, extension in amnesty for VAT, consideration of Insurance claims for the losses caused by snow storm (already declared natural disaster by J&K Govt).
The chairman extended gratitude to the Government for infusion of Rs 500 crores in J&K Bank that will definitely provide impetus to stressed economy of J&K. It was brought in the notice of Principal Secretary that there is urgent need for relaxation of two days August 2&3, 2019) for registration of vehicles booked under old tax regime so that the pending issue is resolved on priority. Dr Mehta was apprised that the levy of 9% tax on vehicles has declined the sales of vehicles as most of the customers are purchasing vehicles outside the state and thereby creating loss to exchequer and necessary measures may be taken to curb this revenue loss.
The delegation also told the Principal Secretary that the rehabilitation package for disturbance needs to be extended for large borrowers also and it was apprised that there is dire need for extension in installment submission in Amnesty for old tax regime- VAT.
Dr Mehta gave patient hearing to all the issues and it was assured the delegation for appropriate consideration of their demands and issues and directed the concerned officials for developing a consensus on projected issues and take rational decision for overall economic development of J&K.
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