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Tax Bar Association calls on FM & LG at Raj Bhawan

YB WEB DESK. Dated: 11/24/2021 1:42:57 PM

Jammu, Nov 23 A delegation of newly elected office bearers of Tax Bar Association Jammu today called on Hon’ble Finance Minister, Govt. of India Nirmala Sitharaman & Hon’ble Lieutenant Governor, UT J&K Manoj Sinha at Raj Bhawan, Jammu. The delegation consisted of Advocate Rakesh Kapahi President, Advocate Vikram Dubey Senior Vice President, Advocate Renu Verma Vice President, Advocate Dheeraj Bhasin General Secretary and Advocate Ishant Gupta Joint Secretary- cum-Treasurer. FM as well as LG both had given patient hearing to the delegation. The delegation presented a bouquet and handed over a memorandum to FM stating the issues being faced by the professionals as well as stakeholders under Goods and Services Act (GST) & Income Tax Act along with a charter of demands in the better interest of the Tax Professionals. The delegation told FM & LG that they are grateful to them for taking time out of their busy schedule and grant appointment to the newly elected office bearers in a very short notice, requested by them. Advocate Rakesh Kapahi said that Tax Bar Association Jammu (J&K) having its office at Jammu is an association of Advocates / Lawyers dealing exclusively in Tax matters. The association is serving the society by disseminating the knowledge and resolving the problems being faced by the traders/Industry/service Providers. He while highlighting the issues as well as demands that were presented by way of memorandum, said that under GST Act the major issues to be considered on merits by the Government is the launching of mechanism for the revision of returns, simplification of GSTR 4 Annual filing related to Composition dealer, matching of ITC shall be done on half yearly or yearly basis and the time limit for availment of ITC should be taken as due date of Annual return and actual date of filing the annual return whichever is earlier, establishment of GST Tribunals, Extension of time limit for revocation of Suo-Moto cancellation of Registrations, last but not the least more importantly grant new restoration under GST on fast track basis. Kapahi besides the issued faced under GST also highlighted some of the major issues faced under Income Tax Act especially regarding the glitches faced after the launching of new Income Tax Web Portal concerning about Digital Signatures, EProceedings, uploading and downloading of forms and more importantly stressed upon to extend the dates for filing returns and other compliance on the new portal, keeping in view the numerous difficulties and glitches being faced by the assesses. He said that they agree that the new portal will take time to work smoothly but till the time, it becomes user friendly, the assesses may not suffer for no fault of theirs and moreover, extension of dates will definitely attract more filing of returns and collection of revenue. Kapahi also appreciated the working of the Central Government and finance department and said that it was a welcome and great step by the Government on launching the Annual Information Statement.