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Home Business

Finance deptt orders refund of excess Advance Entry Tax

KH Business Desk by KH Business Desk
November 22, 2018
in Business
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Jammu: The Governor’s Administration Thursday issued instructions regarding refund of the legitimate balance of Entry Tax deposited in advance by transport agencies and courier service providers.
According to a Circular issued by the Finance Department, it has been stated that instances have come to the notice of the Government that some consignors of goods in Jammu and Kashmir importing goods for consumption within the State were depositing entry tax in advance to facilitate speedy clearance of the goods at various Check Posts in the State. The State Taxes Department has allowed such advance deposits of the entry tax and kept records in relation to tax deposited in advance as well as consignment of goods cleared against such deposits. With the introduction of J&K GST Act, 2017, the J&K Entry Tax on Good Act, 2000 stands repealed and in some cases the balance of advance entry tax deposits are lying with the concerned authorities. Representations have been received from the consignors for refund of the balance amount as there are no liabilities to be cleared against these deposits.
After considering the issue, the instructions/orders have been issued that the legitimate balances of entry tax deposited in advance shall be refunded to the depositors. The depositors shall not be eligible of any kind of interest as entry tax in advance has been deposited voluntarily to facilitate speedy clearance of their consignments at check posts.
For the purpose of claiming refund of balances of entry tax paid in advance, the applicant shall file an application before in-charge of the concerned office within one month of the issuance of this order along with complete breakup of entry tax deposited in advance, entry tax due on consignments cleared against these deposits and balance of entry deposited in advance.
It was further given out that the officer in-charge shall verify the claim of refund vis-à-vis the records and determine the refund as if it were a refund allowed under erstwhile entry tax on Goods Act, 2000.

KH Business Desk

KH Business Desk

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The publication of “Kashmir Horizon” as an English daily was started with a modest attempt on May 19, 2008.It has been a Himalayan attempt for “The Kashmir Horizon” to survive the challenges posed to journalism in the violence fraught place like Jammu & Kashmir.

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