News Karnataka
Saturday, August 20 2022
Jammu - Kashmir

J&K approves 50% waiver of passenger tax

Tax benefits to increase disposable income likely in Union Budget
Photo Credit : IANS

Jammu: In a significant move, the Jammu and Kashmir Administrative Council (AC), which met under the chairmanship of Lieutenant Governor Manoj Sinha, approved the waiver/exemption of 50 per cent of Passenger Tax chargeable on various vehicles from April 1, 2021 to March 31, 2022, officials said on Monday.

The decision will address the demand of the operators of commercial transport, who have suffered losses on account of Covid-19 induced nationwide lockdown and restrictions leading to non-operationalisation of the public transport.

For the owners of commercial vehicles, who have already deposited the passenger tax for 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, i.e., for the time period of April 1, 2022 to March 31, 2023.

Further, the recovery of the outstanding passenger tax from the owners of the commercial vehicles for the financial year 2018-19 to 2021-22 will be made in four equal installments on quarterly basis commencing from April 1, 2022.

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