The date for filing of quarterly Value Added Taxes (VAT) returns of first and second quarter for financial year 2016-17 has been extended to Dec 31. An order issued by the Sales Tax Department on Saturday said filing of returns for assesses having turnover of above Rs 1 crore can now be filed till end of the year.
“The trading and business class could not file the VAT returns for these two quarters and the Annual Return for the financial year 2015-16 due to the current uprising. All the business establishments, offices, Auditors offices have remained shut. Moreover, internet and other lines of communications have remained suspended. Regarding the extension in the date for filing the return for assesees with turnover of less than Rs 1 crore, the issue of extension is under process,” said Faiz Bakshi, secretary general, Kashmir Chamber of Commerce and Industry (KCCI).
He said KCCI had taken up the issue regarding extension of date in filing of quarterly VAT returns (Q1, Q2) and annual return for the period 2015-2016 with the state govt. “The request has been granted by the govt and the date as per the Govt notification No: 05 of 2016 dated: 29-10-2016 stands thus extended and the registered dealers shall now file the Audit Reports by 31st of December 2016,” Bakshi said.