India News | J-K Admin Approves 50 Pc Waiver of Passenger Tax
Get latest articles and stories on India at LatestLY. In a significant move, the Jammu and Kashmir administration on Monday approved exemption of 50 per cent passenger tax chargeable on various vehicles during the last fiscal, an official spokesman said.
Jammu, May 2 (PTI) In a significant move, the Jammu and Kashmir administration on Monday approved exemption of 50 per cent passenger tax chargeable on various vehicles during the last fiscal, an official spokesman said.
This was approved at a meeting of the administrative council that met under the chairmanship of Lieutenant Governor Manoj Sinha.
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The decision will address the demand of commercial transport operators who suffered losses due to the Covid-induced nationwide lockdown and restrictions, the spokesman said.
"For owners of commercial vehicles, who have already deposited the passenger tax for the aforesaid period in full, the excess amount paid thereof by them shall be adjusted against the liability accrued or accruable in the next financial year that is for the time period of April 1, 2022, to March 31, 2023," he said.
The spokesman said that further, the recovery of outstanding passenger tax from owners of commercial vehicles for 2018-19 to 2021-22 fiscals will be made in four equal installments on quarterly basis starting from April 1.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)