Goods and service tax has taken a toll over each and every position and state and this time the Associated Chamber of Commerce and Industries-Kashmir (CCIK) has been saying some worthy words over the issue. The association has seen some mismanagement over the implementation of this significant tax regime in the state.
The association has considered the government’s action as hasty steps in the means of the implementation in the Jammu and Kashmir and also said that the administration has been considering various solutions and talk-backs from merchants and business entities. Following are the statements by the association itself in their own words to describe the situation.
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It said that “The Steering Committee formed by the government (in this regard) for pondering over the issue of GST had almost nil representation from the trade organizations (sic), The exercise is futile as GST cannot be implemented in J&K for the special status the state enjoys under Indian constitution.”
It also added that “As regards Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI), we believe that Jammu & Kashmir Transfer of Property Act prevails over SARFAESI,”
