Rather for vigorous tax auditing to check tax evasion

SRINAGAR: Minister for Finance and Ladakh Affairs, Mr. Abdul Rahim Rather has called for vigorous tax auditing and assessments to check possibilities of tax evasion.
Chairing at periodical performance review meeting of the Commercial Taxes department, Kashmir held today at the Banquet Hall, Srinagar, Mr. Rather said tax revenue being the major source of revenue to the state exchequer, there should be no room for tax evasions or laxity in its realization process.
The Minister enjoined upon officers of Commercial Taxes department to work with added zeal and dedication to realize more revenue in the better interests of the state. He also called for a congenial and trader friendly atmosphere to deal with the dealers adding that without any harassment, the process of tax auditing, assessments ad inspections should continue unabated to affect greater tax revenue. He also called for creating discipline and order like in civil courts to deal with cases of dealers. He said he will be personally inspecting various circles of the department to ensure close monitoring of the performance indicators.
The meeting was informed that the commercial taxes department has realized a revenue of Rs. 695.58 crore upto October this year against a target of Rs. 826.13 crore for the current financial year. The revenue realized during the last fiscal was to the tune of only Rs. 688 crore. The comparative increase registered this year accounts for Rs. 325 crore which marks about 87.54 percent increase than last year.
It was informed that an amount of Rs. 301.22 crore has been realized against Value Added Tax (VAT) and Rs. 394.36 crore on account of General Sales Tax (GST) which includes works contract, liquor, ATF and other services. The department has conducted 968 inspections upto October this year and recovered a revenue of Rs. 20.19 lakh as penalty from the dealers for violating the VAT rules. Meanwhile, about 750 industrial units have been granted remission of Rs. 4.39 crore by the department during the same period. It was stated that the revenue realized under GST has been to the tune of Rs. 5.77 crore and Rs. 88 lakh under VAT arrears. In addition, 3089 seizer cases have been penalized and a fine of Rs. 63.95 lakh recovered from these.
The Commissioner, Commercial Taxes department, Mr. Gazanfar Hussain, Additional Commissioner, CT department Kashmir, Mr. Mushtaq Ahmad, Deputy Commissioners of Audit, Stamps, Vigilance and Recovery and concerned Circle Officers of Kashmir division were present in the meeting.