SAC waives off demand raised by Commercial Taxes Deptt against 1573 flood-affected businesses

Jammu: The State Administrative Council (SAC) which met here Wednesday under the chairmanship of Governor Satya Pal Malik approved waiving off the demands raised by the Assessing Authorities of the Commercial Taxes Department against 1573 flood hit dealers by rejecting their input tax credit claim for the stocks destroyed in the floods of September 2014.
The Trade Associations and Chambers had been demanding waiver of demands raised by the Assessing Authorities against the flood affected dealers, by rejecting their input tax credit claim for the stocks destroyed in the floods of September, 2014, in view of the fact that the goods had got destroyed.
Taking into consideration the magnitude of the 2014 flood disaster, the misery it brought to all the sections of the Society, traders included and the fact that the stocks got destroyed in the flood, the SAC settled the long pending demand of the traders.