A leading Kashmir based news portal recently published its interview with the Vice president of National Conference where he says if the results of next assembly election handouts ruling authority to his party, then “all options” will be unearthed and implemented to bring the central Goods and Service Tax (GST) Act “in line with the autonomous character” of Jammu and Kashmir.
Kashmir Chamber of Commerce and Industry (KCCI) signified its consent on the views presented by former chief minister Omar Abdullah’s that there is a need to imbibe some reformation in GST and he promised to do so if he comes in power to rule the state.
KCCI agreed with the adverse impact of GST on the J&K economy and expressed the need for a refined and practical alternative of GST to restore the trades which faced downfall due to GST like handicrafts industry and travel, tourism businesses etc
“The impact (of GST) has crippled our handicrafts, tourism and industry sectors. The refunds to industries are lingered on for months together on one pretext or the other,” said senior vice president of KCCI, Nasir Hamid Khan, in a statement.
Nasir Hamid Khan said that initial denial to the introduction of new laws was a combined decision of KCCI & a majority of another stakeholder, considering it as an act to deteriorate the sovereignty and unique constitutional status of Jammu & Kashmir.
Khan said that the Parliamentary Standing Committee on Transport, Tourism, and Culture has certified the position taken by the KCCI and other business bodies in 2018. Vice president of KCCI also said that “It had raised red flags over the implementation of GST on tourist related activities. It has recommended that it must be reconsidered and done in a cautious manner in order to ensure that the delicate state of the tourism sector should not be adversely affected,”.
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KCCI threw light on government role to sort out various issues related to connectivity, infrastructure, and taxes which hampering the state’s economic growth.
The report further brought attention to the pessimistic phase of the economy of the state due to GST and urgent need to adopt some measures for the same.
“The stress on various sectors of the economy, especially tourism, handicrafts, and industry, has reached a critical breaking point. There is an immediate need for all stakeholders to put in serious and effective efforts in a salvage operation,” Khan said.
Some feasible alternatives are indeed needed to pull the J&K from this ruining economic aspect.
