SRINAGAR: A review meeting to assess the performance of Circle I was today chaired by Additional Commissioner of the State Taxes Kashmir, Shakeel Maqbool Yatoo, here. The meeting threadbare reviewed the growth, cash positions, sale suppression, e-way bill performance, sector-wise analysis and comparative tax growth vis-à-vis last year's same quarter.
It also held a detailed review of each taxpayer's performance. Individual discussions were held, and several key points were addressed. In the Automobile Sector Growth, the Taxpayers showing growth in the automobile sector were directed to enhance their growth further, considering the closures of other automobile units within the jurisdiction.
Some automobile sector taxpayers cited previous VAT and GST liabilities affecting their current capital position, which led to the Additional Commissioner expressing dissatisfaction with their cash position and instructing the STO to conduct stock checks. Similarly in the case of Works Contractors, the Additional Commissioner sought explanations for the poor revenue performance of works contractors compared to the previous year, with delayed payments from the department for completed projects being a significant factor.
Also in the FMCG Sector, an acknowledgment was given to the good growth in the FMCG sector, as reflected in the tax revenue. However, there was an emphasis on ensuring that this growth is accurately reflected in their returns. The general observations made on the occasion suggested that some automobile sector taxpayers reported sales declines due to customers purchasing from newly opened dealerships in other districts. The Additional Commissioner directed stock checks in these cases.
The Additional Commissioner issued directives in case of E-way Bills, instructing the STO Circle I to address mismatches in inward and outward e-way bills of taxpayers. He also ordered for immediate stock checking, especially in the automobile sector, with a report due within a month.
In case of Tax Evasion, a strict containment of tax evasion was emphasized, with offenders to be dealt with under GST law provisions. He directed STO to submit reports on coal and bitumen from the respective taxpayers in Circle I.
Prominent business houses present in the meeting included Jamkash, HRCC, Peaks Auto, Jamie Power Private Limited, Kashmir Valley Motor Private Limited, KC Automart Pvt Ltd, Chainar Mobiles Pvt Ltd, LY Impex, Valley Road Construction Co., Suhail Brothers, JK Alamdaar Trading Company, Mirz Infrastructure Builders, The Bhat Impex, M/S Jamsheed Enterprises, J.K. Sales Corporation and JK Engineering Construction Company, among others.
