KCCI raises business community’s concerns with IT Commissioner

The Kashmir Chamber of Commerce and Industry (KCCI) held an interactive meeting on tax-related issues today with the Principal Commissioner of Income Tax for Jammu and Kashmir and Ladakh, Vikram Sahay.

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KCCI President Javid Ahmad Tenga articulated the pressing concerns of the local business community and taxpayers regarding tax payments, non-compliance issues, and the attachment of bank accounts of assesses.

In response, Vikram Sahay highlighted the success of the “Vivad Se Vishwas” outreach programme, which has led to over 100 applications for the settlement of outstanding tax dues. He acknowledged a significant improvement in advance tax payments by the corporate sector between December 2024 and February 2025, emphasising that timely payments could help businesses avoid penalties.

According to the trade body, KCCI members and tax consultants seized the opportunity to raise the wrong reporting of GST sales, which results in mismatch of figures during TDS filings, the wrong specific queries related to tax compliance, rectification processes, and the implications of the new tax regime. Sahay responded positively to each inquiry, stating that the Income Tax Department is commitment to facilitating a smoother tax experience for local businesses.

“Agenda based meetings will be held to which the Commercial Tax Department will also be invited to discuss the complications arising out of wrong GST accounting,” said Sahay.