In exercise of the powers conferred by Section 85 of the Jammu and Kashmir Value Added Tax Act, 2005, the Government hereby direct that in the Jammu and Kashmir Value Added Rules, 2005, the following amendments shall be made namely:-

(i) In rule 16 for the words "five years" wherever occurring, the words "six years" shall be substituted.

(ii) In proviso to sub-rule (2) of rule 28, for the words "three months" the words "six months" shall be substituted; and

(iii) In sub-rule (2) of rule 55 for the letter and figure "Rs.10,000" the letter and figure "Rs.50,000" shall be substituted

By order of the Government of Jammu and Kashmir.

Sd/-

Commissioner/Secretary to Govt.

Finance Department