CAG on tax recoverable from J&K traders

Recommending immediate steps to recover huge arrears of revenue, the CAG has said tax dues amounting to Rs 1,426.38 crore are still to be recovered from traders and companies in Jammu and Kashmir. "The arrears of revenue as on March 31, 2011, on account of taxes on sales, VAT, trades are Rs 1,426.38 crore, of which Rs 351.59 crore were outstanding for more than five years," the state revenue report of the Comptroller and Auditor General for the year ended March 31, 2011, said.