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The Jammu and Kashmir General Sales Tax Act, 1962
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8-C. Special provision in the interest of Industrial development

Notwithstanding anything to the contrary contained in sections 7 and 8, the Government may, if satisfied that it is necessary and expedient so to do in the interest of industrial development of the State, defer the payment of admitted or assessed tax by such class of industries on the sale of their finished products for such period and subject to such conditions as may be prescribed.