J-K to amend VAT, four other Acts

Jammu and Kashmir : The Jammu and Kashmir Assembly today passed two bills and introduced another for amendment of five Acts, including the VAT. One of the passed bills authorises payment and appropriation of certain sums from state`s consolidated fund for the services of financial year 2008-09. The another bill is for withdrawal of money from the consolidated fund for services in 2009-10 fiscal. Minister for Finance, Law and Parliamentary Affairs Abdul Rahim Rather also introduced a bill to amend Jammu and Kashmir Value Added Tax (VAT) Act 2005, the state General Sales Tax Act 1962, state Entry Tax on Goods Act, 2000, the Stamps Act and the Motor Spirit and Diesel Oil (taxation of sales) Act.